FSM Wealth Advisors LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

FSM Wealth Advisors LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,296 shares of the company’s stock after selling 110 shares during the period. FSM Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $982,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Algert Global LLC lifted its position in shares of Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after purchasing an additional 110 shares in the last quarter. AMF Tjanstepension AB increased its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Czech National Bank lifted its holdings in Eli Lilly and Company by 5.6% during the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock worth $142,368,000 after buying an additional 8,566 shares in the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock valued at $12,838,000 after buying an additional 2,833 shares during the period. Finally, WealthBridge Capital Management LLC grew its stake in shares of Eli Lilly and Company by 55.6% in the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after acquiring an additional 1,876 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LLY. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft decreased 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 research note on Monday, November 4th. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Insider Buying and Selling at Eli Lilly and Company

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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Up 0.0 %

LLY opened at $811.47 on Tuesday. 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 1 year low of $682.53 and a 1 year high of $972.53. The firm has a 50 day moving average price of $783.56 and a 200 day moving average price of $843.75. The company has a market cap of $770.35 billion, a PE ratio of 87.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company Increases Dividend

The firm 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.