Eli Lilly and Company (NYSE:LLY) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,430 shares of the company’s stock after selling 859 shares during the period. Eli Lilly and Company makes up 0.9% of Private Trust Co. NA’s portfolio, making the stock its 12th biggest position. Private Trust Co. NA’s holdings in Eli Lilly and Company were worth $8,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB increased its holdings in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares during the period. Values Added Financial LLC boosted its holdings in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after buying an additional 17 shares during the period. Pursue Wealth Partners LLC acquired a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $364,000. Lodestar Private Asset Management LLC boosted its holdings in shares of Eli Lilly and Company by 17.6% during the third quarter. Lodestar Private Asset Management LLC now owns 1,003 shares of the company’s stock worth $888,000 after purchasing an additional 150 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in shares of Eli Lilly and Company by 2.7% during the third quarter. Highview Capital Management LLC DE now owns 6,763 shares of the company’s stock worth $5,992,000 after purchasing an additional 181 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Down 1.1 %

Shares of NYSE:LLY opened at $904.76 on Friday. The stock has a fifty day simple moving average of $811.83 and a two-hundred day simple moving average of $848.85. The stock has a market capitalization of $857.87 billion, a price-to-earnings ratio of 77.26, a PEG ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. 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 posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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 anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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 $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.66%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

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

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.