Eli Lilly and Company (NYSE:LLY) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its stake in Eli Lilly and Company (NYSE:LLY) by 18.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,058 shares of the company’s stock after selling 1,831 shares during the quarter. First Hawaiian Bank’s holdings in Eli Lilly and Company were worth $6,221,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC boosted its position in Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after buying an additional 11 shares during the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Eli Lilly and Company by 0.5% during the 3rd 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 raised its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares during the period. O Brien Greene & Co. Inc lifted its holdings in Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after purchasing an additional 12 shares in the last quarter. Finally, Tcwp LLC increased its stake in shares of Eli Lilly and Company by 2.3% during the second quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 1.7 %

NYSE LLY traded up $12.86 during trading on Wednesday, reaching $786.15. 3,405,092 shares of the company’s stock were exchanged, compared to its average volume of 2,942,447. The company has a 50 day moving average price of $788.56 and a two-hundred day moving average price of $861.70. The stock has a market cap of $746.30 billion, a P/E ratio of 84.99, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. 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 (NYSE:LLY) last announced its quarterly 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 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

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

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research analyst reports. Truist Financial increased their target price 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. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Citigroup raised their price objective on 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. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.