Cacti Asset Management LLC Has $619,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

Cacti Asset Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the company’s stock after selling 200 shares during the period. Cacti Asset Management LLC’s holdings in Eli Lilly and Company were worth $619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Old Port Advisors lifted its stake in Eli Lilly and Company by 1.3% in the fourth quarter. Old Port Advisors now owns 1,283 shares of the company’s stock valued at $991,000 after acquiring an additional 17 shares during the last quarter. SK Wealth Management LLC bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $264,000. Independent Solutions Wealth Management LLC boosted its position in Eli Lilly and Company by 6.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 872 shares of the company’s stock worth $773,000 after purchasing an additional 49 shares during the period. SMART Wealth LLC acquired a new stake in shares of Eli Lilly and Company in the third quarter worth $457,000. Finally, Exome Asset Management LLC raised its holdings in Eli Lilly and Company by 7.7% in the 3rd quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock worth $9,255,000 after acquiring an additional 747 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Up 1.4 %

Shares of NYSE:LLY traded up $10.81 during trading on Thursday, hitting $782.81. 672,725 shares of the company’s stock traded hands, compared to its average volume of 3,211,798. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $798.30 and a 200-day moving average price of $865.06. Eli Lilly and Company has a 52 week low of $598.80 and a 52 week high of $972.53. The company has a market cap of $743.13 billion, a price-to-earnings ratio of 84.63, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS 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 company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued 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 0.77%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.