Eli Lilly and Company (NYSE:LLY) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,020 shares of the company’s stock after selling 30 shares during the period. Trust Point Inc.’s holdings in Eli Lilly and Company were worth $3,103,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC boosted its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s 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 owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LLY has been the topic of a number of analyst reports. Sanford C. Bernstein assumed 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. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $827.41 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $785.48 billion, a PE ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The firm’s 50-day moving average is $784.69 and its two-hundred day moving average is $843.49. Eli Lilly and Company has a 12 month low of $682.53 and a 12 month high of $972.53.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors 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. Investors of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost 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 0.73%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.