Smith Anglin Financial LLC Has $304,000 Stake in Eli Lilly and Company (NYSE:LLY)

Smith Anglin Financial LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394 shares of the company’s stock after selling 105 shares during the quarter. Smith Anglin Financial LLC’s holdings in Eli Lilly and Company were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after acquiring an additional 85,823 shares in the last quarter. International Assets Investment Management LLC raised its position in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after purchasing an additional 157,741 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Eli Lilly and Company by 3.5% in the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after purchasing an additional 22,392 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on LLY shares. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $758.70 on Friday. The firm’s 50 day simple moving average is $784.03 and its 200 day simple moving average is $856.70. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The company has a market capitalization of $720.25 billion, a price-to-earnings ratio of 82.02, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company declared that its board has initiated a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 56.22%.

About Eli Lilly and Company

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.