Perigon Wealth Management LLC Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Perigon Wealth Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,968 shares of the company’s stock after selling 1,580 shares during the period. Eli Lilly and Company makes up approximately 0.7% of Perigon Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Perigon Wealth Management LLC’s holdings in Eli Lilly and Company were worth $28,007,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LLY. Geode Capital Management LLC raised its position in Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after buying an additional 85,823 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eli Lilly and Company by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after purchasing an additional 157,741 shares during the period. Fisher Asset Management LLC boosted its holdings in Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after purchasing an additional 169,391 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Eli Lilly and Company by 0.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock worth $1,731,168,000 after purchasing an additional 12,044 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company cut their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $997.22.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Up 2.4 %

LLY opened at $823.59 on Friday. The firm has a market cap of $781.85 billion, a P/E ratio of 89.04, a PEG ratio of 1.59 and a beta of 0.41. The business’s fifty day simple moving average is $780.80 and its 200 day simple moving average is $845.98. Eli Lilly and Company has a 52 week low of $637.00 and a 52 week high of $972.53. 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 (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). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, equities research analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.