Gemmer Asset Management LLC Buys 51 Shares of Eli Lilly and Company (NYSE:LLY)

Gemmer Asset Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 4.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,091 shares of the company’s stock after buying an additional 51 shares during the quarter. Gemmer Asset Management LLC’s holdings in Eli Lilly and Company were worth $843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Beck Bode LLC acquired a new position in Eli Lilly and Company in the second quarter valued at approximately $15,036,000. XTX Topco Ltd bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $546,000. Mill Creek Capital Advisors LLC boosted its position in shares of Eli Lilly and Company by 8.4% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,498 shares of the company’s stock worth $2,262,000 after purchasing an additional 194 shares during the last quarter. Westwood Wealth Management grew its stake in shares of Eli Lilly and Company by 20.1% during the second quarter. Westwood Wealth Management now owns 1,940 shares of the company’s stock worth $1,756,000 after purchasing an additional 325 shares during the period. Finally, Savoie Capital LLC bought a new stake in Eli Lilly and Company in the second quarter valued at about $15,315,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company 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 value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Up 2.2 %

Shares of LLY stock opened at $741.98 on Wednesday. The firm’s fifty day moving average price is $779.00 and its two-hundred day moving average price is $852.83. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 1 year low of $614.82 and a 1 year high of $972.53. The firm has a market capitalization of $704.38 billion, a P/E ratio of 80.21, a PEG ratio of 1.52 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its 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 net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LLY shares. Deutsche Bank Aktiengesellschaft reduced their target price 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. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Finally, Redburn Atlantic upgraded shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.