Eli Lilly and Company (NYSE:LLY) Shares Sold by Sutton Place Investors LLC

Sutton Place Investors LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,253 shares of the company’s stock after selling 20 shares during the quarter. Sutton Place Investors LLC’s holdings in Eli Lilly and Company were worth $1,739,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. River Street Advisors LLC raised its stake in shares of Eli Lilly and Company by 0.6% during the 4th quarter. River Street Advisors LLC now owns 3,169 shares of the company’s stock worth $2,447,000 after buying an additional 20 shares in the last quarter. WFA Asset Management Corp purchased a new position in Eli Lilly and Company during the fourth quarter worth $108,000. U.S. Capital Wealth Advisors LLC grew its position in shares of Eli Lilly and Company by 134.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 20,176 shares of the company’s stock valued at $15,576,000 after purchasing an additional 11,556 shares during the period. Nadler Financial Group Inc. grew its position in shares of Eli Lilly and Company by 8.3% in the fourth quarter. Nadler Financial Group Inc. now owns 2,741 shares of the company’s stock valued at $2,116,000 after purchasing an additional 210 shares during the period. Finally, Golden State Equity Partners lifted its stake in shares of Eli Lilly and Company by 2,514.7% during the fourth quarter. Golden State Equity Partners now owns 2,484 shares of the company’s stock worth $1,918,000 after purchasing an additional 2,389 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $811.47 on Tuesday. The firm has a market cap of $770.35 billion, a price-to-earnings ratio of 87.73, a P/E/G ratio of 1.72 and a beta of 0.42. 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 $682.53 and a 52 week high of $972.53. The firm’s 50-day simple moving average is $783.56 and its two-hundred day simple moving average is $843.75.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.