Eli Lilly and Company (NYSE:LLY) Stock Holdings Reduced by Cohen Klingenstein LLC

Cohen Klingenstein LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,464 shares of the company’s stock after selling 8,000 shares during the period. Eli Lilly and Company accounts for about 3.4% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 8th largest position. Cohen Klingenstein LLC’s holdings in Eli Lilly and Company were worth $100,718,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC lifted its position in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after buying an additional 724 shares during the last quarter. M&T Bank Corp lifted its holdings in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Everence Capital Management Inc. boosted its position in Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after purchasing an additional 690 shares during the period. Cooper Financial Group grew its holdings in Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after purchasing an additional 695 shares during the last quarter. Finally, Jacobs & Co. CA raised its position in shares of Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after purchasing an additional 7,646 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased 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 report on Monday, November 4th. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Finally, Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

Shares of LLY opened at $726.24 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $689.43 billion, a PE ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. The stock has a 50 day simple moving average of $781.14 and a 200-day simple moving average of $854.35.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.83%. This is a boost 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 is currently 64.86%.

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.