Eli Lilly and Company (NYSE:LLY) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,462 shares of the company’s stock after buying an additional 1,194 shares during the period. Carnegie Investment Counsel’s holdings in Eli Lilly and Company were worth $6,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, West Financial Advisors LLC acquired a new position in Eli Lilly and Company during the third quarter valued at $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 4.1 %

Shares of NYSE LLY opened at $726.24 on Friday. The company has a 50-day moving average of $783.25 and a 200 day moving average of $856.02. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. 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 stock has a market cap of $689.43 billion, a PE ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the company earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase 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 often an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. 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. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LLY. Truist Financial boosted 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 report on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft decreased their price objective 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 report on Monday, November 4th. Citigroup upped 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. Finally, Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.