Eli Lilly and Company (NYSE:LLY) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 266,822 shares of the company’s stock after buying an additional 1,867 shares during the period. Eli Lilly and Company makes up about 0.8% of M&T Bank Corp’s portfolio, making the stock its 26th biggest holding. M&T Bank Corp’s holdings in Eli Lilly and Company were worth $236,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Cedar Mountain Advisors LLC boosted its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value 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. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Up 1.3 %

NYSE LLY opened at $767.76 on Friday. 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 $567.02 and a one year high of $972.53. The company has a 50-day simple moving average of $818.94 and a 200-day simple moving average of $868.98. The firm has a market capitalization of $728.85 billion, a PE ratio of 83.00, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its 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). The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LLY shares. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Citigroup boosted 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 research note on Friday, October 25th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,002.22.

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.