Portside Wealth Group LLC Sells 29 Shares of Eli Lilly and Company (NYSE:LLY)

Portside Wealth Group LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 3,129 shares of the company’s stock after selling 29 shares during the period. Portside Wealth Group LLC’s holdings in Eli Lilly and Company were worth $2,416,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC lifted its stake in shares of 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 acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $726.24 on Monday. 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 has a 52 week low of $612.70 and a 52 week high of $972.53. The company’s 50 day moving average price is $781.14 and its two-hundred day moving average price is $854.35. The company has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is 64.86%.

Insider Transactions at Eli Lilly and Company

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on LLY. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.