Global Trust Asset Management LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Global Trust Asset Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,643 shares of the company’s stock after selling 25 shares during the period. Global Trust Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC lifted 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 purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted 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 purchasing an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.6 %

Shares of LLY stock opened at $766.00 on Friday. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The firm has a fifty day moving average price of $776.31 and a 200-day moving average price of $850.93. 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 company has a market cap of $727.18 billion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.56 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. 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 previous year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company declared that its board has authorized a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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 paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LLY. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Four 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, the stock presently has an average rating of “Moderate Buy” and a consensus 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.