Spinnaker Trust Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Spinnaker Trust lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,469 shares of the company’s stock after selling 386 shares during the quarter. Eli Lilly and Company makes up 0.9% of Spinnaker Trust’s holdings, making the stock its 27th largest position. Spinnaker Trust’s holdings in Eli Lilly and Company were worth $13,486,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after acquiring an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Eli Lilly and Company by 126,531.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after acquiring an additional 678,209 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Eli Lilly and Company by 100.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after acquiring an additional 584,866 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut 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. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Barclays cut their price target on 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. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Down 3.1 %

Shares of NYSE LLY opened at $844.82 on Friday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $794.44 and a 200-day simple moving average of $844.60. The stock has a market capitalization of $802.01 billion, a PE ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, equities analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is 44.41%.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.