Eli Lilly and Company (NYSE:LLY) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 32,319 shares of the company’s stock after selling 128 shares during the period. Eli Lilly and Company makes up approximately 1.2% of Logan Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Logan Capital Management Inc.’s holdings in Eli Lilly and Company were worth $28,632,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth approximately $34,328,000. American Trust increased its position in Eli Lilly and Company by 4.6% in the third quarter. American Trust now owns 2,603 shares of the company’s stock worth $2,306,000 after buying an additional 115 shares during the period. Tidal Investments LLC lifted its stake in Eli Lilly and Company by 20.5% in the third quarter. Tidal Investments LLC now owns 49,562 shares of the company’s stock valued at $43,909,000 after buying an additional 8,424 shares during the last quarter. Optimist Retirement Group LLC boosted its holdings in shares of Eli Lilly and Company by 20.2% during the third quarter. Optimist Retirement Group LLC now owns 3,164 shares of the company’s stock valued at $2,803,000 after acquiring an additional 531 shares during the period. Finally, Blankinship & Foster LLC bought a new position in shares of Eli Lilly and Company during the third quarter worth about $78,003,000. Institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated 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 of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Trading Up 1.2 %

Shares of NYSE LLY traded up $9.03 during mid-day trading on Friday, hitting $791.38. 363,935 shares of the company traded hands, compared to its average volume of 3,194,313. The business has a 50 day moving average of $835.43 and a two-hundred day moving average of $870.78. The stock has a market capitalization of $751.27 billion, a price-to-earnings ratio of 84.58, a PEG ratio of 3.02 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during 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 business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.76%. 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. Eli Lilly and Company’s payout ratio is presently 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.