CNB Bank Purchases 115 Shares of Eli Lilly and Company (NYSE:LLY)

CNB Bank lifted its stake in Eli Lilly and Company (NYSE:LLY) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,255 shares of the company’s stock after purchasing an additional 115 shares during the period. CNB Bank’s holdings in Eli Lilly and Company were worth $969,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Beck Bode LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at about $15,036,000. XTX Topco Ltd purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at about $546,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Eli Lilly and Company by 3.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,723 shares of the company’s stock valued at $7,898,000 after buying an additional 276 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Eli Lilly and Company by 5.8% during the second quarter. Pacer Advisors Inc. now owns 68,017 shares of the company’s stock valued at $61,581,000 after buying an additional 3,713 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its position in shares of Eli Lilly and Company by 14.8% during the second quarter. Garden State Investment Advisory Services LLC now owns 2,262 shares of the company’s stock valued at $2,052,000 after buying an additional 291 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $726.24 on Friday. The stock 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 12 month low of $612.70 and a 12 month high of $972.53. The firm’s 50 day simple moving average is $781.14 and its 200-day simple moving average is $854.71. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the business posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 13.14 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analyst Weigh In

Several research firms have commented on LLY. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup increased their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.