Janney Capital Management LLC Sells 457 Shares of Eli Lilly and Company (NYSE:LLY)

Janney Capital Management LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 7,761 shares of the company’s stock after selling 457 shares during the quarter. Janney Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,992,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Barclays dropped their price target 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 report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup increased their price target on shares of 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. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.4 %

Shares of Eli Lilly and Company stock opened at $784.78 on Friday. 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 $624.68 and a 12-month high of $972.53. The company has a market capitalization of $745.01 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41. The firm’s 50-day moving average price is $775.91 and its two-hundred day moving average price is $850.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 during 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 was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. On average, analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company announced that its board has authorized a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.