Ignite Planners LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Ignite Planners LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,927 shares of the company’s stock after selling 21 shares during the period. Ignite Planners LLC’s holdings in Eli Lilly and Company were worth $1,507,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after purchasing an additional 85,823 shares during the period. International Assets Investment Management LLC raised its position in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after buying an additional 22,392 shares during 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 LLY opened at $742.80 on Wednesday. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The stock has a fifty day moving average price of $784.63 and a 200-day moving average price of $857.48. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market cap of $705.15 billion, a PE ratio of 80.30, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. Equities research analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to purchase 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.