Cohen Investment Advisors LLC Sells 52 Shares of Eli Lilly and Company (NYSE:LLY)

Cohen Investment Advisors LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,704 shares of the company’s stock after selling 52 shares during the period. Eli Lilly and Company comprises 4.5% of Cohen Investment Advisors LLC’s holdings, making the stock its 2nd largest position. Cohen Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $7,491,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Beck Bode LLC acquired a new position in Eli Lilly and Company during the second quarter worth $15,036,000. Glass Jacobson Investment Advisors llc grew its position in shares of Eli Lilly and Company by 8.2% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 357 shares of the company’s stock valued at $323,000 after acquiring an additional 27 shares during the period. XTX Topco Ltd acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $546,000. Intech Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 4.6% in the 2nd quarter. Intech Investment Management LLC now owns 229,995 shares of the company’s stock valued at $208,233,000 after purchasing an additional 10,215 shares during the period. Finally, Brighton Jones LLC lifted its stake in Eli Lilly and Company by 0.4% in the 2nd quarter. Brighton Jones LLC now owns 11,497 shares of the company’s stock valued at $10,409,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $726.24 on Friday. The firm has a market cap of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. 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 stock’s fifty day moving average price is $783.25 and its two-hundred day moving average price is $856.02. Eli Lilly and Company has a one year low of $612.70 and a one 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 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 company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date 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 56.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial boosted 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. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.