Eli Lilly and Company (NYSE:LLY) Shares Sold by Glass Jacobson Investment Advisors llc

Glass Jacobson Investment Advisors llc decreased its stake in Eli Lilly and Company (NYSE:LLY) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 340 shares of the company’s stock after selling 17 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Eli Lilly and Company were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 4.3% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,514 shares of the company’s stock worth $1,341,000 after acquiring an additional 63 shares in the last quarter. MML Investors Services LLC raised its holdings in Eli Lilly and Company by 7.7% during the third quarter. MML Investors Services LLC now owns 122,361 shares of the company’s stock worth $108,404,000 after purchasing an additional 8,753 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in Eli Lilly and Company during the third quarter worth $555,000. Northeast Financial Consultants Inc grew its holdings in Eli Lilly and Company by 1.0% in the third quarter. Northeast Financial Consultants Inc now owns 9,932 shares of the company’s stock valued at $8,799,000 after purchasing an additional 97 shares during the last quarter. Finally, Dorsey Wright & Associates increased its position in shares of Eli Lilly and Company by 1.5% in the third quarter. Dorsey Wright & Associates now owns 18,733 shares of the company’s stock valued at $16,597,000 after buying an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Stock Down 2.9 %

Shares of NYSE LLY opened at $802.94 on Tuesday. The stock has a market capitalization of $762.25 billion, a PE ratio of 86.80, a P/E/G ratio of 3.13 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a fifty day moving average of $841.04 and a 200-day moving average of $871.97. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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). The firm had revenue of $11.44 billion for 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%. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. On average, analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.