Congress Park Capital LLC Sells 24 Shares of Eli Lilly and Company (NYSE:LLY)

Congress Park Capital LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,184 shares of the company’s stock after selling 24 shares during the period. Congress Park Capital LLC’s holdings in Eli Lilly and Company were worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Beaird Harris Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after buying an additional 11 shares during the period. Summit Financial Strategies Inc. increased its stake in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership lifted its position in shares of 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 worth $2,136,000 after purchasing an additional 11 shares during the last quarter. Tcwp LLC boosted its stake in shares of 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 purchasing an additional 12 shares during the period. Finally, First Community Trust NA grew its holdings in shares of Eli Lilly and Company by 4.9% in the third quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research reports. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Citigroup boosted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Barclays lowered their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial lifted their price objective 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. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Down 4.1 %

Shares of NYSE:LLY opened at $726.24 on Friday. The business’s 50-day moving average is $783.25 and its 200 day moving average is $856.02. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. The firm has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates 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 was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

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 issued a dividend of $1.50 per share. 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 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

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

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.