Bridge Creek Capital Management LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Bridge Creek Capital Management LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,999 shares of the company’s stock after selling 30 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,543,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LLY. Cooper Financial Group raised its holdings in shares of Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares during the period. Wedmont Private Capital increased its position in Eli Lilly and Company by 8.8% in the fourth quarter. Wedmont Private Capital now owns 14,149 shares of the company’s stock worth $11,318,000 after buying an additional 1,147 shares during the last quarter. Talbot Financial LLC raised its stake in shares of Eli Lilly and Company by 24.6% in the fourth quarter. Talbot Financial LLC now owns 21,276 shares of the company’s stock valued at $16,425,000 after buying an additional 4,199 shares during the period. Asset Allocation & Management Company LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter worth $262,000. Finally, Cardano Risk Management B.V. grew its stake in shares of Eli Lilly and Company by 1.0% during the 4th quarter. Cardano Risk Management B.V. now owns 218,515 shares of the company’s stock worth $168,694,000 after acquiring an additional 2,143 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.6 %

Shares of Eli Lilly and Company stock traded up $4.66 during midday trading on Monday, reaching $804.56. 2,139,072 shares of the company’s stock traded hands, compared to its average volume of 2,964,724. The stock has a 50 day moving average of $786.08 and a 200-day moving average of $859.41. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The company has a market cap of $763.78 billion, a PE ratio of 86.98, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. 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 (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.75%. 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. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its board has authorized a stock repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.