Eli Lilly and Company (NYSE:LLY) Holdings Cut by Worth Asset Management LLC

Worth Asset Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,539 shares of the company’s stock after selling 91 shares during the quarter. Worth Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lantz Financial LLC lifted its stake in shares of Eli Lilly and Company by 1.3% in the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after buying an additional 16 shares during the last quarter. Private Management Group Inc. boosted its stake in Eli Lilly and Company by 11.5% during the 2nd quarter. Private Management Group Inc. now owns 649 shares of the company’s stock valued at $588,000 after purchasing an additional 67 shares during the period. Cahill Financial Advisors Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at approximately $200,000. Liberty Wealth Management LLC increased its position in Eli Lilly and Company by 20.9% in the 2nd quarter. Liberty Wealth Management LLC now owns 1,063 shares of the company’s stock worth $963,000 after buying an additional 184 shares during the period. Finally, LGT Fund Management Co Ltd. lifted its holdings in shares of Eli Lilly and Company by 89.4% during the second quarter. LGT Fund Management Co Ltd. now owns 17,724 shares of the company’s stock worth $16,047,000 after buying an additional 8,367 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. 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 objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on 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 research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 1.1 %

NYSE:LLY traded up $8.87 during mid-day trading on Wednesday, hitting $782.16. The company had a trading volume of 1,609,189 shares, compared to its average volume of 2,560,894. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The firm has a market cap of $742.52 billion, a P/E ratio of 84.56, a P/E/G ratio of 2.99 and a beta of 0.41. The business’s fifty day moving average is $788.56 and its two-hundred day moving average is $861.70.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm 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 firm posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

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

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.