Brooklyn Investment Group Sells 443 Shares of Eli Lilly and Company (NYSE:LLY)

Brooklyn Investment Group decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,196 shares of the company’s stock after selling 443 shares during the period. Eli Lilly and Company accounts for about 1.2% of Brooklyn Investment Group’s portfolio, making the stock its 13th biggest position. Brooklyn Investment Group’s holdings in Eli Lilly and Company were worth $4,011,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Beck Bode LLC bought a new position in Eli Lilly and Company during the second quarter worth $15,036,000. XTX Topco Ltd acquired a new position in shares of Eli Lilly and Company during the second quarter valued at about $546,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Eli Lilly and Company by 3.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,723 shares of the company’s stock worth $7,898,000 after purchasing an additional 276 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Pacer Advisors Inc. now owns 68,017 shares of the company’s stock valued at $61,581,000 after buying an additional 3,713 shares during the period. Finally, Garden State Investment Advisory Services LLC increased its position in Eli Lilly and Company by 14.8% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,262 shares of the company’s stock valued at $2,052,000 after buying an additional 291 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 4.1 %

Shares of Eli Lilly and Company stock opened at $726.24 on Friday. The firm has a market cap of $689.43 billion, a PE ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. 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 stock has a fifty day moving average price of $781.14 and a 200-day moving average price of $854.71.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts anticipate that Eli Lilly and Company will post 13.14 EPS 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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company announced that its board has approved a stock buyback plan 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 plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Citigroup boosted 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, 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 filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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.