Eli Lilly and Company (NYSE:LLY) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,013 shares of the company’s stock after selling 697 shares during the quarter. Financial Advocates Investment Management’s holdings in Eli Lilly and Company were worth $4,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted 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 purchasing an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC raised its position 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 valued at $905,774,000 after buying an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC lifted its stake in Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Eli Lilly and Company by 100.7% during the 3rd 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 period. Finally, Mizuho Securities USA LLC grew its stake in Eli Lilly and Company by 599.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after acquiring an additional 369,293 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $878.09 on Friday. The firm has a market cap of $833.59 billion, a P/E ratio of 94.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The business’s 50 day moving average is $788.21 and its 200-day moving average is $843.47. 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 has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Equities research analysts predict that Eli Lilly and Company will post 12.85 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. 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%.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup dropped their target price on 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. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $997.50.

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.