Eli Lilly and Company (NYSE:LLY) Shares Sold by GEM Asset Management LLC

GEM Asset Management LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 977 shares of the company’s stock after selling 56 shares during the quarter. GEM Asset Management LLC’s holdings in Eli Lilly and Company were worth $754,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, Compass Financial Services Inc bought a new position in Eli Lilly and Company during the 4th quarter valued at $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Down 0.0 %

Shares of NYSE:LLY opened at $872.81 on Friday. The company has a market cap of $828.58 billion, a P/E ratio of 74.54, a P/E/G ratio of 1.87 and a beta of 0.42. The stock’s 50-day moving average is $793.14 and its 200-day moving average is $844.15. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. 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 issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Equities research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. 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 yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) is 44.41%.

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.