First County Bank CT Has $1.54 Million Position in Eli Lilly and Company (NYSE:LLY)

First County Bank CT decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 30.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,993 shares of the company’s stock after selling 880 shares during the quarter. Eli Lilly and Company accounts for approximately 0.9% of First County Bank CT’s holdings, making the stock its 29th biggest position. First County Bank CT’s holdings in Eli Lilly and Company were worth $1,539,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LLY. Lantz Financial LLC lifted its position in Eli Lilly and Company by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after buying an additional 16 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Eli Lilly and Company by 68,180.8% during the second quarter. Strategic Financial Concepts LLC now owns 415,147 shares of the company’s stock valued at $3,759,000 after purchasing an additional 414,539 shares during the last quarter. Emerald Advisers LLC grew its stake in Eli Lilly and Company by 46.8% in the second quarter. Emerald Advisers LLC now owns 1,069 shares of the company’s stock valued at $968,000 after purchasing an additional 341 shares in the last quarter. Stonekeep Investments LLC acquired a new position in Eli Lilly and Company in the 2nd quarter worth about $258,000. Finally, First Foundation Advisors raised its stake in shares of Eli Lilly and Company by 2.1% during the 2nd quarter. First Foundation Advisors now owns 2,785 shares of the company’s stock worth $2,522,000 after purchasing an additional 57 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Citigroup raised their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Barclays reduced 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 report on Thursday, October 31st. Four research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $6.15 during mid-day trading on Tuesday, hitting $771.25. 2,558,156 shares of the company were exchanged, compared to its average volume of 2,553,253. Eli Lilly and Company has a 1-year low of $609.59 and a 1-year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business has a fifty day moving average of $791.18 and a 200 day moving average of $862.49. The company has a market capitalization of $732.16 billion, a PE ratio of 83.38, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. This is a boost 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 (DPR) is currently 64.86%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are 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.