Pettyjohn Wood & White Inc. Sells 16 Shares of Eli Lilly and Company (NYSE:LLY)

Pettyjohn Wood & White Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,978 shares of the company’s stock after selling 16 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Eli Lilly and Company were worth $1,527,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in Eli Lilly and Company by 0.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 6,448 shares of the company’s stock valued at $4,978,000 after buying an additional 56 shares in the last quarter. Hilltop Partners LLC grew its stake in Eli Lilly and Company by 39.9% in the fourth quarter. Hilltop Partners LLC now owns 1,743 shares of the company’s stock valued at $1,346,000 after acquiring an additional 497 shares during the period. Fort Sheridan Advisors LLC grew its stake in Eli Lilly and Company by 1.0% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,890 shares of the company’s stock valued at $3,775,000 after acquiring an additional 48 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $1,189,000. Finally, Prosperitas Financial LLC raised its position in shares of Eli Lilly and Company by 5.2% during the fourth quarter. Prosperitas Financial LLC now owns 3,249 shares of the company’s stock worth $2,508,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $904.76 on Friday. The company has a market capitalization of $857.87 billion, a P/E ratio of 77.26, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company’s 50-day moving average is $811.83 and its 200 day moving average is $848.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.66%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 51.24%.

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

Analysts Set New Price Targets

LLY has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and 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.