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

Addison Advisors LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952 shares of the company’s stock after selling 14 shares during the quarter. Addison Advisors LLC’s holdings in Eli Lilly and Company were worth $735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prasad Wealth Partners LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth $482,000. BankPlus Trust Department purchased a new position in Eli Lilly and Company during the 4th quarter worth $5,883,000. Impax Asset Management Group plc grew its position in Eli Lilly and Company by 117.6% during the 4th quarter. Impax Asset Management Group plc now owns 46,562 shares of the company’s stock worth $35,946,000 after purchasing an additional 25,167 shares during the last quarter. Quartz Partners LLC grew its position in Eli Lilly and Company by 3.1% during the 4th quarter. Quartz Partners LLC now owns 764 shares of the company’s stock worth $590,000 after purchasing an additional 23 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in Eli Lilly and Company by 6.0% during the 4th quarter. Rothschild Investment LLC now owns 9,859 shares of the company’s stock worth $7,611,000 after purchasing an additional 557 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $881.83 on Tuesday. The company has a market cap of $836.12 billion, a P/E ratio of 75.31, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company’s 50-day moving average price is $803.38 and its 200 day moving average price is $847.92. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. Truist Financial raised their price objective 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. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.