Alan B Lancz & Associates Inc. Sells 175 Shares of Eli Lilly and Company (NYSE:LLY)

Alan B Lancz & Associates Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,555 shares of the company’s stock after selling 175 shares during the quarter. Eli Lilly and Company makes up approximately 1.2% of Alan B Lancz & Associates Inc.’s portfolio, making the stock its 19th largest holding. Alan B Lancz & Associates Inc.’s holdings in Eli Lilly and Company were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Summit Financial Strategies Inc. grew its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares in the last quarter. Prio Wealth Limited Partnership grew its stake in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares in the last quarter. First Community Trust NA increased its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after acquiring an additional 12 shares during the period. Hummer Financial Advisory Services Inc lifted its stake in Eli Lilly and Company by 1.0% in the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock worth $1,126,000 after purchasing an additional 12 shares in the last quarter. Finally, James Hambro & Partners LLP boosted its holdings in Eli Lilly and Company by 3.7% in the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after purchasing an additional 12 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred 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 owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LLY. 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 note on Friday, October 25th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

LLY stock opened at $808.16 on Tuesday. 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’s 50-day moving average price is $776.69 and its two-hundred day moving average price is $848.19. The stock has a market capitalization of $767.20 billion, a price-to-earnings ratio of 87.37, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business 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 previous year, the company earned $0.10 EPS. As a group, equities analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business 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 $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.74%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

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.