Eli Lilly and Company (NYSE:LLY) Shares Sold by Deltec Asset Management LLC

Deltec Asset Management LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,750 shares of the company’s stock after selling 300 shares during the period. Eli Lilly and Company makes up approximately 0.9% of Deltec Asset Management LLC’s holdings, making the stock its 29th biggest holding. Deltec Asset Management LLC’s holdings in Eli Lilly and Company were worth $4,439,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Confluence Wealth Services Inc. boosted its stake in Eli Lilly and Company by 23.4% in the fourth quarter. Confluence Wealth Services Inc. now owns 8,794 shares of the company’s stock valued at $6,741,000 after acquiring an additional 1,665 shares in the last quarter. Country Club Bank lifted its stake in shares of Eli Lilly and Company by 27.1% during the fourth quarter. Country Club Bank now owns 3,378 shares of the company’s stock worth $2,614,000 after buying an additional 720 shares during the period. Berkshire Money Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $302,000. Lockheed Martin Investment Management Co. lifted its stake in shares of Eli Lilly and Company by 38.8% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 23,290 shares of the company’s stock worth $17,980,000 after buying an additional 6,510 shares during the period. Finally, Y.D. More Investments Ltd lifted its stake in shares of Eli Lilly and Company by 25.7% during the fourth quarter. Y.D. More Investments Ltd now owns 171 shares of the company’s stock worth $132,000 after buying an additional 35 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LLY shares. Wells Fargo & Company lowered their price objective 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 note on Tuesday, January 28th. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five equities research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 3.4 %

LLY opened at $870.56 on Friday. Eli Lilly and Company has a fifty-two week low of $707.02 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a fifty day moving average of $786.57 and a two-hundred day moving average of $843.28. The stock has a market capitalization of $826.44 billion, a price-to-earnings ratio of 94.11, a PEG ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. On average, research analysts expect that Eli Lilly and Company will post 12.85 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

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

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.