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

Westmount Partners LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,069 shares of the company’s stock after selling 268 shares during the period. Westmount Partners LLC’s holdings in Eli Lilly and Company were worth $1,597,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC grew its position in Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after acquiring an additional 690 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Eli Lilly and Company by 13.7% in the fourth quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock valued at $887,014,000 after acquiring an additional 138,835 shares in the last quarter. Finally, Jacobs & Co. CA boosted its holdings in shares of Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after acquiring an additional 7,646 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.6 %

LLY traded down $4.78 during trading on Monday, hitting $795.12. The company had a trading volume of 1,767,829 shares, compared to its average volume of 2,921,993. The company has a market cap of $754.82 billion, a PE ratio of 85.96, a P/E/G ratio of 2.99 and a beta of 0.41. The business has a 50-day moving average of $786.08 and a 200-day moving average of $859.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. As a group, analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price 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 report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Truist Financial boosted their price objective 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average 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.