Eli Lilly and Company (NYSE:LLY) Shares Sold by Wallington Asset Management LLC

Wallington Asset Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,319 shares of the company’s stock after selling 86 shares during the quarter. Wallington Asset Management LLC’s holdings in Eli Lilly and Company were worth $3,334,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after buying an additional 692,303 shares during the last quarter. Comerica Bank increased its position in Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after buying an additional 631,312 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Eli Lilly and Company by 100.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after buying an additional 584,866 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. 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. Barclays decreased their price target on 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. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

Eli Lilly and Company stock opened at $726.24 on Monday. The company has a 50 day moving average price of $781.14 and a 200 day moving average price of $854.35. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $612.70 and a 52 week high of $972.53. The firm has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Eli Lilly and Company will post 13.14 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. Investors of record on Friday, February 14th will be given 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 dividend on an annualized basis and a yield of 0.83%. Eli Lilly and Company’s payout ratio is presently 64.86%.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

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.