GAMMA Investing LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

GAMMA Investing LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,304 shares of the company’s stock after selling 187 shares during the period. Eli Lilly and Company accounts for about 0.9% of GAMMA Investing LLC’s holdings, making the stock its 14th biggest position. GAMMA Investing LLC’s holdings in Eli Lilly and Company were worth $11,043,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter worth about $30,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on LLY shares. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 0.8 %

LLY opened at $778.07 on Friday. Eli Lilly and Company has a one year low of $598.80 and a one year 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 business’s fifty day moving average is $796.03 and its two-hundred day moving average is $864.45. The company has a market cap of $738.63 billion, a price-to-earnings ratio of 84.12, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. Analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

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.