Legacy Trust Sells 219 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Trust lowered its stake in Eli Lilly and Company (NYSE:LLY) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138 shares of the company’s stock after selling 219 shares during the period. Legacy Trust’s holdings in Eli Lilly and Company were worth $879,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LLY. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 0.5% during the 3rd 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 during the period. International Assets Investment Management LLC grew its holdings 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 acquiring an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $5,417,970,000 after acquiring an additional 157,741 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 3.5% in 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 purchasing an additional 169,391 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position 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 worth $1,731,168,000 after purchasing an additional 12,044 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on LLY. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Citigroup lowered 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. Five 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 currently has an average rating of “Moderate Buy” and a consensus target price of $997.22.

Eli Lilly and Company Stock Down 1.4 %

Eli Lilly and Company stock opened at $811.61 on Friday. The company has a fifty day simple moving average of $782.29 and a 200 day simple moving average 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 has a 1-year low of $637.00 and a 1-year high of $972.53. The company has a market cap of $770.48 billion, a P/E ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its 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 prior year, the firm posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.