Fragasso Financial Advisors Inc Cuts Position in Eli Lilly and Company (NYSE:LLY)

Fragasso Financial Advisors Inc reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,214 shares of the company’s stock after selling 186 shares during the period. Fragasso Financial Advisors Inc’s holdings in Eli Lilly and Company were worth $3,253,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Finally, West Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

LLY stock traded down $4.12 during trading on Monday, reaching $795.78. 1,723,306 shares of the company’s stock were exchanged, compared to its average volume of 2,912,773. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53. The company’s fifty day moving average price is $786.08 and its 200-day moving average price is $859.41. The firm has a market cap of $755.45 billion, a PE ratio of 86.03, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.