First National Bank of Mount Dora Trust Investment Services Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

First National Bank of Mount Dora Trust Investment Services lessened its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,925 shares of the company’s stock after selling 148 shares during the quarter. Eli Lilly and Company accounts for approximately 1.8% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 14th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Eli Lilly and Company were worth $7,662,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter worth about $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LLY. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

LLY stock opened at $726.24 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.66 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 business has a 50 day simple moving average of $781.14 and a two-hundred day simple moving average of $854.71.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. Research analysts anticipate that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

About Eli Lilly and Company

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.