FLC Capital Advisors Sells 95 Shares of Eli Lilly and Company (NYSE:LLY)

FLC Capital Advisors lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,034 shares of the company’s stock after selling 95 shares during the period. FLC Capital Advisors’ holdings in Eli Lilly and Company were worth $798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its position in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Cooper Financial Group lifted its stake in shares of Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares during the period. Everence Capital Management Inc. grew its holdings in shares of Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares during the last quarter. Finally, Jacobs & Co. CA increased its position in shares of Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after acquiring an additional 7,646 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $741.98 on Wednesday. The firm’s fifty day simple moving average is $779.00 and its two-hundred day simple moving average is $852.83. Eli Lilly and Company has a 52-week low of $614.82 and a 52-week high of $972.53. The company has a market cap of $704.38 billion, a price-to-earnings ratio of 80.21, a PEG ratio of 1.52 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are 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 is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays cut their price target on shares of 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. Citigroup raised 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.