Eli Lilly and Company (NYSE:LLY) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,262 shares of the company’s stock after selling 145 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Eli Lilly and Company were worth $2,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Geode Capital Management LLC boosted its holdings in Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after buying an additional 85,823 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after acquiring an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after acquiring an additional 169,391 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Eli Lilly and Company by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after purchasing an additional 12,044 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on LLY. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Sanford C. Bernstein assumed 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 target price on the stock. 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 equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $997.22.

Insider Buying and Selling at Eli Lilly and Company

In related 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 completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 1.4 %

Shares of LLY opened at $811.61 on Friday. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53. The firm has a market capitalization of $770.48 billion, a P/E ratio of 87.74, a P/E/G 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 current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

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

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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

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.