Eli Lilly and Company (NYSE:LLY) Shares Sold by Glass Jacobson Investment Advisors llc

Glass Jacobson Investment Advisors llc lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 340 shares of the company’s stock after selling 17 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Eli Lilly and Company were worth $302,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $30,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the second quarter worth $36,000. Morton Brown Family Wealth LLC boosted its position in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% in 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 in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $802.94 on Tuesday. The firm’s fifty day simple moving average is $841.04 and its 200-day simple moving average is $871.97. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The stock has a market capitalization of $762.25 billion, a price-to-earnings ratio of 86.80, a PEG ratio of 3.13 and a beta of 0.41. 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 (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business 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 $1.50 dividend. 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 dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research analyst reports. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Bank of America dropped their price objective on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Barclays dropped their price target 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 note on Thursday, October 31st. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, 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 SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

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.