Perpetual Ltd Sells 4,301 Shares of Eli Lilly and Company (NYSE:LLY)

Perpetual Ltd decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,171 shares of the company’s stock after selling 4,301 shares during the period. Perpetual Ltd’s holdings in Eli Lilly and Company were worth $71,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Geode Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after acquiring an additional 85,823 shares during the last quarter. International Assets Investment Management LLC raised its position in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eli Lilly and Company by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after purchasing an additional 157,741 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after buying an additional 22,392 shares during 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 %

NYSE LLY opened at $753.65 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $715.46 billion, a PE ratio of 81.48, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The company has a 50 day moving average price of $777.46 and a 200 day moving average price of $851.61. Eli Lilly and Company has a 52 week low of $614.82 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program 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 programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LLY. Wolfe Research started 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 target for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

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.