Diversify Advisory Services LLC Sells 2,798 Shares of Eli Lilly and Company (NYSE:LLY)

Diversify Advisory Services LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,114 shares of the company’s stock after selling 2,798 shares during the period. Diversify Advisory Services LLC’s holdings in Eli Lilly and Company were worth $4,891,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 25.5% in the 4th quarter. Diversify Wealth Management LLC now owns 5,876 shares of the company’s stock worth $4,700,000 after purchasing an additional 1,193 shares during the period. Ellsworth Advisors LLC increased its position in Eli Lilly and Company by 456.1% in the fourth quarter. Ellsworth Advisors LLC now owns 2,202 shares of the company’s stock worth $1,700,000 after buying an additional 1,806 shares during the last quarter. RoundAngle Advisors LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $1,524,000. Successful Portfolios LLC lifted its position in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Successful Portfolios LLC now owns 1,264 shares of the company’s stock valued at $976,000 after buying an additional 17 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd grew its stake in shares of Eli Lilly and Company by 13.2% during the 4th quarter. Mandatum Life Insurance Co Ltd now owns 326 shares of the company’s stock worth $252,000 after acquiring an additional 38 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 2.2 %

NYSE LLY opened at $741.98 on Wednesday. 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 stock’s 50-day simple moving average is $779.00 and its two-hundred day simple moving average is $852.83. Eli Lilly and Company has a twelve month low of $614.82 and a twelve month high of $972.53. The company has a market capitalization of $704.38 billion, a price-to-earnings ratio of 80.21, a PEG ratio of 1.52 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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). The firm 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Research analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. 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. 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 is 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Citigroup lifted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.