Atlantic Union Bankshares Corp Sells 550 Shares of Eli Lilly and Company (NYSE:LLY)

Atlantic Union Bankshares Corp lowered its position in Eli Lilly and Company (NYSE:LLY) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,924 shares of the company’s stock after selling 550 shares during the period. Atlantic Union Bankshares Corp’s holdings in Eli Lilly and Company were worth $8,433,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its holdings in Eli Lilly and Company by 18.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 49,602 shares of the company’s stock worth $38,293,000 after buying an additional 7,562 shares during the period. Naviter Wealth LLC boosted its holdings in Eli Lilly and Company by 82.4% in the 4th quarter. Naviter Wealth LLC now owns 10,019 shares of the company’s stock worth $7,734,000 after buying an additional 4,525 shares during the period. Rialto Wealth Management LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $121,000. Hamilton Capital Partners LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $5,177,000. Finally, Lifeworks Advisors LLC boosted its holdings in Eli Lilly and Company by 13.6% in the 4th quarter. Lifeworks Advisors LLC now owns 8,154 shares of the company’s stock worth $6,295,000 after buying an additional 975 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $868.59 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a market capitalization of $823.57 billion, a P/E ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company’s 50-day moving average is $826.63 and its 200 day moving average is $848.68.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on LLY shares. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,007.50.

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.