Eli Lilly and Company (NYSE:LLY) Shares Sold by Cavalier Investments LLC

Cavalier Investments LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 97.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 966 shares of the company’s stock after selling 31,590 shares during the period. Cavalier Investments LLC’s holdings in Eli Lilly and Company were worth $746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the third quarter worth approximately $30,000. Highline Wealth Partners LLC raised its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Trading Up 2.4 %

Shares of NYSE:LLY opened at $902.47 on Wednesday. The stock has a market capitalization of $855.69 billion, a PE ratio of 77.07, 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 firm has a fifty day moving average price of $805.87 and a 200 day moving average price of $847.99. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s payout ratio is currently 51.24%.

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

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.