Eli Lilly and Company (NYSE:LLY) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,822 shares of the company’s stock after acquiring an additional 1,867 shares during the quarter. Eli Lilly and Company accounts for approximately 0.8% of M&T Bank Corp’s portfolio, making the stock its 26th largest holding. M&T Bank Corp’s holdings in Eli Lilly and Company were worth $236,389,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter worth $30,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the second quarter valued at $36,000. Morton Brown Family Wealth LLC boosted its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of a number of research analyst reports. 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 price objective on the stock. 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 on the stock in a report on Monday, November 4th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup boosted their target price on 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. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling at Eli Lilly and Company

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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

LLY stock opened at $767.76 on Friday. The stock has a market capitalization of $728.85 billion, a price-to-earnings ratio of 83.00, a price-to-earnings-growth ratio of 3.02 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 has a 52-week low of $567.02 and a 52-week high of $972.53. The stock’s fifty day simple moving average is $818.94 and its 200-day simple moving average is $868.98.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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 return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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.