Asset Dedication LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Asset Dedication LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 30.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,050 shares of the company’s stock after selling 2,215 shares during the quarter. Asset Dedication LLC’s holdings in Eli Lilly and Company were worth $3,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. lifted its position in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership lifted its holdings in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 shares during the period. First Community Trust NA lifted its holdings in Eli Lilly and Company by 4.9% during the third quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after buying an additional 12 shares during the period. Hummer Financial Advisory Services Inc boosted its position in Eli Lilly and Company by 1.0% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after acquiring an additional 12 shares in the last quarter. Finally, James Hambro & Partners LLP increased its holdings in shares of Eli Lilly and Company by 3.7% in the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $823.59 on Friday. The firm has a market capitalization of $781.85 billion, a P/E ratio of 89.04, a PEG ratio of 1.59 and a beta of 0.41. The stock has a 50-day simple moving average of $780.80 and a two-hundred day simple moving average of $845.98. 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 $637.00 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. 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 payout ratio is 56.22%.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LLY. Deutsche Bank Aktiengesellschaft dropped 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. Sanford C. Bernstein initiated coverage on shares of 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. Barclays reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price 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. Finally, StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Five investment 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, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $997.22.

Insider Buying and Selling

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

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.