Gries Financial LLC Trims Position in Eli Lilly and Company (NYSE:LLY)

Gries Financial LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,170 shares of the company’s stock after selling 21 shares during the quarter. Gries Financial LLC’s holdings in Eli Lilly and Company were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Summit Financial Strategies Inc. lifted its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its position in Eli Lilly and Company by 1.0% during the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after buying an additional 12 shares during the period. James Hambro & Partners LLP boosted its holdings in shares of Eli Lilly and Company by 3.7% during the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after buying an additional 12 shares in the last quarter. Finally, Inscription Capital LLC grew its position in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after buying an additional 12 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LLY shares. Wells Fargo & Company lowered their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Finally, StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $997.22.

Eli Lilly and Company Price Performance

NYSE LLY opened at $811.61 on Friday. The stock has a market capitalization of $770.48 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $637.00 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business’s fifty day moving average price is $782.29 and its 200-day moving average price is $845.82.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 during 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 firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, equities analysts predict that Eli Lilly and Company will post 12.85 earnings per share for the current year.

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

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

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the 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 transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

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.