Callan Capital LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Callan Capital LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,100 shares of the company’s stock after selling 220 shares during the period. Callan Capital LLC’s holdings in Eli Lilly and Company were worth $3,166,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Redmond Asset Management LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $1,036,000. Winebrenner Capital Management LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $478,000. Navellier & Associates Inc. grew its stake in Eli Lilly and Company by 4.1% during the fourth quarter. Navellier & Associates Inc. now owns 25,998 shares of the company’s stock valued at $20,070,000 after acquiring an additional 1,027 shares in the last quarter. Wealth Management Nebraska purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $203,000. Finally, Prentice Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 3.8% in the 4th quarter. Prentice Wealth Management LLC now owns 1,206 shares of the company’s stock worth $931,000 after buying an additional 44 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $874.12 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a 50 day simple moving average of $801.33 and a two-hundred day simple moving average of $847.13. The stock has a market cap of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has initiated a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally 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. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on LLY shares. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft dropped their price objective 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 note on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

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.