Eli Lilly and Company (NYSE:LLY) Shares Sold by Old North State Trust LLC

Old North State Trust LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,195 shares of the company’s stock after selling 52 shares during the quarter. Eli Lilly and Company makes up 5.2% of Old North State Trust LLC’s portfolio, making the stock its 3rd largest position. Old North State Trust LLC’s holdings in Eli Lilly and Company were worth $6,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lantz Financial LLC boosted its holdings in Eli Lilly and Company by 1.3% during the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after buying an additional 16 shares during the last quarter. ERn Financial LLC lifted its holdings in shares of Eli Lilly and Company by 3.7% during the 2nd quarter. ERn Financial LLC now owns 1,467 shares of the company’s stock valued at $1,328,000 after purchasing an additional 53 shares in the last quarter. Fiduciary Financial Group LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $398,000. Royal Fund Management LLC lifted its holdings in shares of Eli Lilly and Company by 763.9% during the 2nd quarter. Royal Fund Management LLC now owns 3,231 shares of the company’s stock valued at $2,925,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Evolution Wealth Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 4.6% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 317 shares of the company’s stock valued at $287,000 after purchasing an additional 14 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Down 1.7 %

LLY stock opened at $782.35 on Friday. 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 capitalization of $742.70 billion, a PE 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 business’s 50 day simple moving average is $835.43 and its 200 day simple moving average is $870.78.

Eli Lilly and Company (NYSE:LLY) last posted its 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 business 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 firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current year.

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. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has authorized a share repurchase plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by 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.