AdvisorNet Financial Inc Sells 841 Shares of Eli Lilly and Company (NYSE:LLY)

AdvisorNet Financial Inc cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,357 shares of the company’s stock after selling 841 shares during the period. AdvisorNet Financial Inc’s holdings in Eli Lilly and Company were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of 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 valued at $41,000 after buying an additional 24,879 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Citigroup boosted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their price target on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

LLY opened at $742.80 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The business has a 50 day moving average of $784.63 and a 200-day moving average of $857.48. The stock has a market cap of $705.15 billion, a price-to-earnings ratio of 80.30, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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.