Eli Lilly and Company (NYSE:LLY) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,564 shares of the company’s stock after selling 113 shares during the quarter. Eli Lilly and Company comprises 1.3% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 12th largest position. SeaCrest Wealth Management LLC’s holdings in Eli Lilly and Company were worth $12,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC raised its stake in Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares in the last quarter. Prio Wealth Limited Partnership raised its stake in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after buying an additional 11 shares in the last quarter. O Brien Greene & Co. Inc raised its stake in Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after buying an additional 12 shares in the last quarter. Finally, Tcwp LLC raised its stake in Eli Lilly and Company by 2.3% during the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several research reports. Barclays cut 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 research note on Thursday, October 31st. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $746.42 on Thursday. The stock has a fifty day moving average price of $784.63 and a two-hundred day moving average price of $857.48. 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 firm has a market cap of $708.59 billion, a P/E ratio of 80.69, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year 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). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. Research analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 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.