Grove Bank & Trust Raises Stake in Eli Lilly and Company (NYSE:LLY)

Grove Bank & Trust boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 33.5% during the 4th quarter, HoldingsChannel reports. The firm owned 8,048 shares of the company’s stock after purchasing an additional 2,019 shares during the period. Eli Lilly and Company accounts for approximately 0.9% of Grove Bank & Trust’s investment portfolio, making the stock its 28th biggest holding. Grove Bank & Trust’s holdings in Eli Lilly and Company were worth $6,213,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after buying an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after buying an additional 692,303 shares in the last quarter. Comerica Bank raised its position in Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after acquiring an additional 631,312 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after acquiring an additional 584,866 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Down 4.1 %

NYSE:LLY opened at $726.24 on Tuesday. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The firm has a market cap of $689.43 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company’s 50 day moving average is $781.14 and its 200-day moving average is $854.04.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 13.14 EPS for the current year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is an increase 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 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. 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 note on Thursday, October 31st. Finally, Truist Financial upped their target price 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 note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.