Eli Lilly and Company (NYSE:LLY) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,509 shares of the company’s stock after selling 1,435 shares during the period. Edge Capital Group LLC’s holdings in Eli Lilly and Company were worth $8,113,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC boosted its position in Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after acquiring an additional 1,021,287 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Eli Lilly and Company by 126,531.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after purchasing an additional 678,209 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Eli Lilly and Company by 599.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after buying an additional 369,293 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in Eli Lilly and Company by 257.1% in the third quarter. Holocene Advisors LP now owns 437,603 shares of the company’s stock valued at $387,690,000 after purchasing an additional 315,065 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of a number of research analyst reports. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Barclays reduced their target price 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. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, Wolfe Research started 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 for the company. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Trading Up 0.1 %

Shares of LLY stock opened at $874.12 on Monday. The stock has a market capitalization of $828.82 billion, a PE ratio of 74.65, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business has a 50-day moving average of $801.33 and a 200 day moving average of $847.66.

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 the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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 dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a positive change 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%. Eli Lilly and Company’s payout ratio is currently 51.24%.

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.