Eli Lilly and Company (NYSE:LLY) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,624 shares of the company’s stock after selling 58 shares during the period. Eli Lilly and Company makes up approximately 1.4% of Adirondack Trust Co.’s portfolio, making the stock its 14th biggest position. Adirondack Trust Co.’s holdings in Eli Lilly and Company were worth $3,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Beck Bode LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $15,036,000. Drucker Wealth 3.0 LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $437,000. Dark Forest Capital Management LP acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $534,000. MBB Public Markets I LLC increased its stake in shares of Eli Lilly and Company by 3,705.6% in the second quarter. MBB Public Markets I LLC now owns 57,465 shares of the company’s stock valued at $52,028,000 after purchasing an additional 55,955 shares during the period. Finally, Lighthouse Investment Partners LLC increased its stake in shares of Eli Lilly and Company by 345.4% in the second quarter. Lighthouse Investment Partners LLC now owns 25,538 shares of the company’s stock valued at $23,122,000 after purchasing an additional 19,804 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.4 %

Eli Lilly and Company stock opened at $784.78 on Friday. The company has a 50 day moving average price of $775.91 and a 200 day moving average price of $850.34. Eli Lilly and Company has a 52 week low of $624.68 and a 52 week high of $972.53. 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 capitalization of $745.01 billion, a price-to-earnings ratio of 84.84, a P/E/G ratio of 1.59 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 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 firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company announced that its board has initiated 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 buy up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Barclays lowered their price objective on shares of 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. Finally, Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.