Eli Lilly and Company (NYSE:LLY) Shares Sold by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857 shares of the company’s stock after selling 19 shares during the period. Firethorn Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its position in Eli Lilly and Company by 94.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock worth $1,480,000 after purchasing an additional 793 shares during the last quarter. Aviso Wealth Management lifted its stake in shares of Eli Lilly and Company by 3.8% during the second quarter. Aviso Wealth Management now owns 2,139 shares of the company’s stock worth $1,936,000 after buying an additional 79 shares during the period. Algert Global LLC grew its holdings in shares of Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares during the last quarter. Creative Planning increased its position in shares of Eli Lilly and Company by 4.1% in the 2nd quarter. Creative Planning now owns 228,675 shares of the company’s stock valued at $207,038,000 after acquiring an additional 9,007 shares during the period. Finally, Doheny Asset Management CA raised its stake in Eli Lilly and Company by 0.6% in the 2nd quarter. Doheny Asset Management CA now owns 3,880 shares of the company’s stock worth $3,513,000 after acquiring an additional 24 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $784.78 on Monday. The stock has a market capitalization of $745.01 billion, a P/E ratio of 84.84, a P/E/G ratio of 1.59 and a beta of 0.41. The company’s fifty day moving average price is $776.69 and its 200 day moving average price is $848.83. 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 has a 1 year low of $624.68 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $12.09 billion. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

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 issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost 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 announced that its Board of Directors 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 repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LLY has been the topic of several research analyst reports. Citigroup boosted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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. Wolfe Research initiated 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, Truist Financial boosted their target price 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 report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. 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

In related news, CAO Donald A. Zakrowski sold 900 shares of the 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 approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.