Abel Hall LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Abel Hall LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 972 shares of the company’s stock after selling 68 shares during the period. Abel Hall LLC’s holdings in Eli Lilly and Company were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Algert Global LLC boosted its position in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after purchasing an additional 110 shares during the period. AMF Tjanstepension AB grew its stake in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares in the last quarter. Czech National Bank raised its holdings in Eli Lilly and Company by 5.6% during the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after acquiring an additional 8,566 shares during the period. Unique Wealth LLC lifted its position in shares of Eli Lilly and Company by 303.7% during the third quarter. Unique Wealth LLC now owns 1,401 shares of the company’s stock worth $1,241,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in shares of Eli Lilly and Company by 24.1% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,332 shares of the company’s stock worth $7,382,000 after acquiring an additional 1,620 shares during the period. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of analyst reports. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $997.22.

Eli Lilly and Company Trading Down 1.4 %

Shares of LLY opened at $811.61 on Friday. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. The firm has a market cap of $770.48 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. The firm has a 50 day moving average price of $782.29 and a 200-day moving average price of $845.82. 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 (NYSE:LLY) last posted its quarterly earnings results 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 net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current year.

Eli Lilly and Company declared that its board has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.74%. This is a positive change 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 (DPR) is presently 56.22%.

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.