Terra Nova Asset Management LLC Sells 2,290 Shares of Eli Lilly and Company (NYSE:LLY)

Terra Nova Asset Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 45.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,744 shares of the company’s stock after selling 2,290 shares during the period. Eli Lilly and Company comprises approximately 1.6% of Terra Nova Asset Management LLC’s holdings, making the stock its 28th biggest position. Terra Nova Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beck Bode LLC acquired a new position in Eli Lilly and Company in the second quarter valued at about $15,036,000. XTX Topco Ltd acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $546,000. Westwood Holdings Group Inc. grew its position in Eli Lilly and Company by 1.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,912 shares of the company’s stock worth $3,542,000 after acquiring an additional 73 shares during the last quarter. Commonwealth Financial Services LLC increased its holdings in Eli Lilly and Company by 2.4% during the 2nd quarter. Commonwealth Financial Services LLC now owns 822 shares of the company’s stock valued at $755,000 after purchasing an additional 19 shares in the last quarter. Finally, Certified Advisory Corp raised its position in Eli Lilly and Company by 3.6% in the 2nd quarter. Certified Advisory Corp now owns 4,064 shares of the company’s stock valued at $3,679,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased 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. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup upped their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

NYSE:LLY opened at $726.24 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business’s 50-day simple moving average is $781.14 and its 200-day simple moving average is $854.04. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The stock has a market capitalization of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 0.83%. 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. Eli Lilly and Company’s payout ratio is 56.22%.

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

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

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.