Rep. Greg Landsman Sells Off Shares of Eli Lilly and Company (NYSE:LLY)

Representative Greg Landsman (D-Ohio) recently sold shares of Eli Lilly and Company (NYSE:LLY). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $15,001 and $50,000 in Eli Lilly and Company stock on November 8th. The trade occurred in the Representative’s “ROCKEFELLER CAPITAL MANAGEMENT (1)” account.

Representative Greg Landsman also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Ameriprise Financial (NYSE:AMP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of United Rentals (NYSE:URI) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Exxon Mobil (NYSE:XOM) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Pfizer (NYSE:PFE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Phillips 66 (NYSE:PSX) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Diamondback Energy (NASDAQ:FANG) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Linde (NASDAQ:LIN) on 10/15/2024.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $6.77 during trading on Friday, reaching $789.12. 3,059,403 shares of the company’s stock were exchanged, compared to its average volume of 3,205,345. 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 has a 50 day moving average price of $833.49 and a 200-day moving average price of $871.09. The stock has a market capitalization of $749.13 billion, a P/E ratio of 85.31, a PEG ratio of 3.02 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53.

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 return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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 issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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

Hedge Funds Weigh In On Eli Lilly and Company

Institutional investors have recently modified their holdings of the company. Exome Asset Management LLC lifted its stake in Eli Lilly and Company by 7.7% in the third quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock worth $9,255,000 after purchasing an additional 747 shares during the last quarter. DGS Capital Management LLC increased its position in Eli Lilly and Company by 7.2% during the 3rd quarter. DGS Capital Management LLC now owns 5,239 shares of the company’s stock valued at $4,641,000 after purchasing an additional 350 shares during the period. Garden State Investment Advisory Services LLC raised its holdings in Eli Lilly and Company by 16.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock worth $2,338,000 after purchasing an additional 372 shares in the last quarter. FFG Partners LLC boosted its position in shares of Eli Lilly and Company by 41.7% during the third quarter. FFG Partners LLC now owns 17,051 shares of the company’s stock valued at $15,106,000 after purchasing an additional 5,020 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in Eli Lilly and Company during the third quarter worth about $34,328,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LLY shares. Citigroup increased their price target 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. Truist Financial upped their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Redburn Atlantic raised shares of 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 seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

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.