Eli Lilly and Company (NYSE:LLY) Shares Sold by Seascape Capital Management

Seascape Capital Management lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543 shares of the company’s stock after selling 71 shares during the quarter. Seascape Capital Management’s holdings in Eli Lilly and Company were worth $1,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Highland Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $792,000. Roxbury Financial LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $87,000. Members Trust Co lifted its stake in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Members Trust Co now owns 427 shares of the company’s stock worth $330,000 after purchasing an additional 17 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in shares of Eli Lilly and Company by 7.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,730 shares of the company’s stock worth $1,335,000 after acquiring an additional 113 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 17.3% in the fourth quarter. Manchester Capital Management LLC now owns 5,516 shares of the company’s stock worth $4,258,000 after acquiring an additional 812 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LLY. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Down 3.1 %

NYSE:LLY opened at $844.82 on Monday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market capitalization of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The stock has a 50 day moving average of $794.44 and a 200-day moving average of $844.98. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

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 analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Analysts predict that Eli Lilly and Company will post 23.33 EPS for the current year.

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. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. This is a positive change 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 dividend payout ratio is 44.41%.

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 repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.