First Affirmative Financial Network Purchases 83 Shares of Eli Lilly and Company (NYSE:LLY)

First Affirmative Financial Network grew its position in Eli Lilly and Company (NYSE:LLY) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584 shares of the company’s stock after purchasing an additional 83 shares during the period. Eli Lilly and Company makes up approximately 0.7% of First Affirmative Financial Network’s investment portfolio, making the stock its 27th largest holding. First Affirmative Financial Network’s holdings in Eli Lilly and Company were worth $1,223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position 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 buying an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in 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 acquiring an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in 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 valued at $614,990,000 after purchasing an additional 692,303 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after purchasing an additional 584,866 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Eli Lilly and Company by 599.9% in the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after purchasing an additional 369,293 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LLY shares. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Citigroup decreased their price objective 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. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company reduced their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Five research 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 company 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 business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $811.61 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53. The firm has a 50-day moving average price of $782.29 and a two-hundred day moving average price of $845.82. The company 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Analysts anticipate that Eli Lilly and Company will post 12.85 earnings per share for the current year.

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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. 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. Eli Lilly and Company’s payout ratio is 56.22%.

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

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.