Canandaigua National Bank & Trust Co. Sells 1,314 Shares of Eli Lilly and Company (NYSE:LLY)

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 15.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,018 shares of the company’s stock after selling 1,314 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership boosted its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. O Brien Greene & Co. Inc lifted its stake in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after buying an additional 12 shares in the last quarter. Finally, Tcwp LLC boosted its holdings in Eli Lilly and Company by 2.3% in the 2nd quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after buying an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $18.20 during trading on Monday, reaching $763.78. The company had a trading volume of 3,930,859 shares, compared to its average volume of 2,174,059. The firm has a market capitalization of $725.07 billion, a PE ratio of 82.57, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The firm’s 50-day simple moving average is $793.82 and its 200 day simple moving average is $863.35. 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 has a 1-year low of $609.59 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 64.86%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LLY shares. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Barclays decreased their price target on shares of 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. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.