Rep. Greg Landsman Sells Off Shares of Eli Lilly and Company (NYSE:LLY)

Representative Greg Landsman (D-Ohio) recently sold shares of Eli Lilly and Company (NYSE:LLY). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $15,001 and $50,000 in Eli Lilly and Company stock on November 8th. The trade occurred in the Representative’s “ROCKEFELLER CAPITAL MANAGEMENT (1)” account.

Representative Greg Landsman also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Ameriprise Financial (NYSE:AMP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of United Rentals (NYSE:URI) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Exxon Mobil (NYSE:XOM) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Pfizer (NYSE:PFE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Phillips 66 (NYSE:PSX) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Diamondback Energy (NASDAQ:FANG) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Linde (NASDAQ:LIN) on 10/15/2024.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $789.12 on Friday. 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 firm has a market cap of $749.13 billion, a PE ratio of 85.31, a P/E/G ratio of 3.02 and a beta of 0.41. The firm has a 50 day simple moving average of $833.49 and a 200 day simple moving average of $871.09. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its 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). The business had revenue of $11.44 billion during 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%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.76%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Exome Asset Management LLC increased its stake in Eli Lilly and Company by 7.7% in the 3rd quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock valued at $9,255,000 after buying an additional 747 shares during the last quarter. DGS Capital Management LLC boosted its holdings in Eli Lilly and Company by 7.2% in the 3rd quarter. DGS Capital Management LLC now owns 5,239 shares of the company’s stock valued at $4,641,000 after purchasing an additional 350 shares during the period. Garden State Investment Advisory Services LLC grew its position in Eli Lilly and Company by 16.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock worth $2,338,000 after buying an additional 372 shares in the last quarter. FFG Partners LLC raised its stake in Eli Lilly and Company by 41.7% in the third quarter. FFG Partners LLC now owns 17,051 shares of the company’s stock valued at $15,106,000 after purchasing an additional 5,020 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $34,328,000. 82.53% of the stock is owned by institutional investors and hedge funds.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

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.