Eli Lilly and Company (NYSE:LLY) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 65.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 633 shares of the company’s stock after selling 1,219 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Eli Lilly and Company were worth $489,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LLY. Suncoast Equity Management increased its stake in shares of Eli Lilly and Company by 60.2% during the fourth quarter. Suncoast Equity Management now owns 41,779 shares of the company’s stock worth $32,253,000 after acquiring an additional 15,698 shares during the period. Prakash Investment Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter worth about $1,013,000. Mattern Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 183.2% during the 4th quarter. Mattern Capital Management LLC now owns 807 shares of the company’s stock worth $623,000 after acquiring an additional 522 shares in the last quarter. Forte Capital LLC ADV grew its holdings in shares of Eli Lilly and Company by 36.7% in the 4th quarter. Forte Capital LLC ADV now owns 2,217 shares of the company’s stock worth $1,711,000 after acquiring an additional 595 shares during the period. Finally, ING Groep NV increased its stake in Eli Lilly and Company by 2,395.0% in the 4th quarter. ING Groep NV now owns 107,336 shares of the company’s stock valued at $82,863,000 after purchasing an additional 103,034 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price target 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 report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $874.12 on Friday. The stock has a fifty day moving average price of $801.33 and a 200 day moving average price of $846.75. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market capitalization of $829.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.39 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.