Royal Fund Management LLC Has $2.93 Million Position in Eli Lilly and Company (NYSE:LLY)

Royal Fund Management LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 46.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,790 shares of the company’s stock after selling 3,266 shares during the period. Royal Fund Management LLC’s holdings in Eli Lilly and Company were worth $2,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

Shares of LLY stock opened at $753.65 on Thursday. The firm has a market capitalization of $715.46 billion, a P/E ratio of 81.48, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $614.82 and a 1 year high of $972.53. The firm’s fifty day simple moving average is $777.46 and its 200 day simple moving average is $851.61. 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 posted its quarterly earnings data 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that Eli Lilly and Company will post 12.98 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. 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 0.80%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on LLY. Barclays lowered their price target 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. Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average 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.