Crossmark Global Holdings Inc. Lowers Position in Eli Lilly and Company (NYSE:LLY)

Crossmark Global Holdings Inc. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 24.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,323 shares of the company’s stock after selling 8,787 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Eli Lilly and Company were worth $21,093,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LLY. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Comerica Bank raised its stake in Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Eli Lilly and Company by 100.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after purchasing an additional 584,866 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $753.65 on Thursday. The stock has a market cap of $715.46 billion, a PE ratio of 81.48, a P/E/G ratio of 1.52 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $614.82 and a 12 month high of $972.53. The company has a 50-day moving average price of $777.46 and a 200 day moving average price of $851.61. 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 (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its board has authorized a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LLY shares. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup increased their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays reduced their target price 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. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated 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 in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.