Eli Lilly and Company (NYSE:LLY) Shares Sold by Frisch Financial Group Inc.

Frisch Financial Group Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,054 shares of the company’s stock after selling 369 shares during the quarter. Frisch Financial Group Inc.’s holdings in Eli Lilly and Company were worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC increased its position in shares of Eli Lilly and Company by 10.2% during the third quarter. Prestige Wealth Management Group LLC now owns 594 shares of the company’s stock worth $526,000 after acquiring an additional 55 shares during the period. Brophy Wealth Management LLC acquired a new position in Eli Lilly and Company during the 3rd quarter worth $1,939,000. High Falls Advisors Inc grew its stake in Eli Lilly and Company by 6.5% during the 3rd quarter. High Falls Advisors Inc now owns 560 shares of the company’s stock worth $496,000 after purchasing an additional 34 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Eli Lilly and Company by 16.6% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,710 shares of the company’s stock worth $1,515,000 after purchasing an additional 243 shares during the period. Finally, M&T Bank Corp raised its position in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $802.94 on Tuesday. 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 one year low of $561.65 and a one year high of $972.53. The firm has a market capitalization of $762.25 billion, a P/E ratio of 86.80, a PEG ratio of 3.13 and a beta of 0.41. The company’s fifty day moving average is $841.04 and its two-hundred day moving average is $871.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

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

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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LLY shares. Barclays lowered their price objective on 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. Deutsche Bank Aktiengesellschaft dropped 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. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

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.