Eli Lilly and Company (NYSE:LLY) Shares Sold by Latitude Advisors LLC

Latitude Advisors LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,253 shares of the company’s stock after selling 44 shares during the quarter. Latitude Advisors LLC’s holdings in Eli Lilly and Company were worth $967,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Hara Capital LLC acquired a new position in Eli Lilly and Company in the third quarter worth approximately $58,000. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $872.98 on Thursday. 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 $711.40 and a 1 year high of $972.53. The company has a fifty day simple moving average of $792.27 and a 200 day simple moving average of $843.94. The firm has a market cap of $828.74 billion, a PE ratio of 74.55, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Sell-side analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 44.41%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and 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.