Eli Lilly and Company (NYSE:LLY) Shares Sold by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. lowered its position in Eli Lilly and Company (NYSE:LLY) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,412 shares of the company’s stock after selling 131 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Eli Lilly and Company were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LLY shares. Citigroup lifted 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. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Activity

In other 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $784.78 on Monday. 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 50 day simple moving average of $776.69 and a 200-day simple moving average of $848.83. The company has a market cap of $745.01 billion, a PE ratio of 84.84, a P/E/G ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $624.68 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released 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 firm had revenue of $11.44 billion during 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current 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 paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company announced that its board has initiated 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.