Eli Lilly and Company (NYSE:LLY) Shares Sold by Iams Wealth Management LLC

Iams Wealth Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323 shares of the company’s stock after selling 213 shares during the quarter. Iams Wealth Management LLC’s holdings in Eli Lilly and Company were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after buying an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC grew its holdings in shares of Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after buying an additional 692,303 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Eli Lilly and Company by 100.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after acquiring an additional 584,866 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in Eli Lilly and Company by 599.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after acquiring an additional 369,293 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $811.61 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 business’s fifty day moving average price is $782.29 and its two-hundred day moving average price is $845.82. The stock has a market cap of $770.48 billion, a PE ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. Eli Lilly and Company has a one year low of $637.00 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend 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 0.74%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LLY shares. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Citigroup dropped their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $997.22.

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.