Eli Lilly and Company (NYSE:LLY) Shares Sold by Patten Group Inc.

Patten Group Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,893 shares of the company’s stock after selling 67 shares during the quarter. Patten Group Inc.’s holdings in Eli Lilly and Company were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garner Asset Management Corp grew its position in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Shoker Investment Counsel Inc. grew its holdings in shares of Eli Lilly and Company by 2.0% in the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after purchasing an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors increased its stake in Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after buying an additional 13 shares during the period. Altrius Capital Management Inc increased its stake in Eli Lilly and Company by 1.0% during the 3rd quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after buying an additional 13 shares during the period. Finally, GSG Advisors LLC lifted its holdings in Eli Lilly and Company by 3.2% during the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $930.22 on Tuesday. The company’s 50 day simple moving average is $817.56 and its 200-day simple moving average is $848.11. The firm has a market cap of $882.01 billion, a PE ratio of 79.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. 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 (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business 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. The ex-dividend date is Friday, February 14th. 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 0.65%. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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

Eli Lilly and Company 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.