Janney Montgomery Scott LLC Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Janney Montgomery Scott LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% in the 4th quarter, HoldingsChannel reports. The firm owned 297,377 shares of the company’s stock after purchasing an additional 15,337 shares during the period. Eli Lilly and Company comprises approximately 0.6% of Janney Montgomery Scott LLC’s holdings, making the stock its 27th largest position. Janney Montgomery Scott LLC’s holdings in Eli Lilly and Company were worth $229,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LLY. Beck Bode LLC purchased a new position in Eli Lilly and Company during the second quarter worth about $15,036,000. Drucker Wealth 3.0 LLC acquired a new position in Eli Lilly and Company during the second quarter worth about $437,000. Dark Forest Capital Management LP acquired a new position in Eli Lilly and Company during the second quarter worth about $534,000. MBB Public Markets I LLC grew its position in Eli Lilly and Company by 3,705.6% during the second quarter. MBB Public Markets I LLC now owns 57,465 shares of the company’s stock worth $52,028,000 after buying an additional 55,955 shares during the period. Finally, Lighthouse Investment Partners LLC grew its position in Eli Lilly and Company by 345.4% during the second quarter. Lighthouse Investment Partners LLC now owns 25,538 shares of the company’s stock worth $23,122,000 after buying an additional 19,804 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Up 2.4 %

Shares of NYSE LLY opened at $784.78 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The firm’s 50 day moving average price is $775.91 and its 200 day moving average price is $850.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. 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 currently 64.86%.

Analyst Ratings Changes

Several brokerages have weighed in on LLY. Barclays lowered 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. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.