Goldstein Advisors LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Goldstein Advisors LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 627 shares of the company’s stock after selling 19 shares during the quarter. Goldstein Advisors LLC’s holdings in Eli Lilly and Company were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LLY. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% in 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 period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays dropped their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $784.78 on Friday. The company has a market cap of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a one year low of $624.68 and a one year high of $972.53. The business has a fifty day moving average of $776.69 and a two-hundred day moving average of $849.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

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.