Eli Lilly and Company (NYSE:LLY) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,039 shares of the company’s stock after selling 22 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Eli Lilly and Company were worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in 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 acquiring an additional 85,823 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eli Lilly and Company by 2.6% in 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 buying an additional 157,741 shares during the period. Fisher Asset Management LLC lifted its holdings 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 buying an additional 169,391 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 buying an additional 12,044 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, 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 accessible through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $803.01 on Thursday. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The stock has a 50 day moving average of $779.81 and a two-hundred day moving average of $846.28. 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 firm has a market cap of $762.31 billion, a P/E ratio of 86.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its 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). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. On average, analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.