Greenleaf Trust Lowers Stake in Eli Lilly and Company (NYSE:LLY)

Greenleaf Trust reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,067 shares of the company’s stock after selling 2,370 shares during the quarter. Greenleaf Trust’s holdings in Eli Lilly and Company were worth $20,124,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LLY. Wolfe Research began 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 on the stock. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday. Barclays decreased their target price on 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 Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $811.47 on Tuesday. The business has a 50-day moving average of $783.56 and a 200 day moving average of $843.75. Eli Lilly and Company has a 12 month low of $682.53 and a 12 month high of $972.53. The stock has a market capitalization of $770.35 billion, a price-to-earnings ratio of 87.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. This is a boost 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 dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was 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 trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

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.