Providence First Trust Co Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Providence First Trust Co cut its stake in Eli Lilly and Company (NYSE:LLY) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,211 shares of the company’s stock after selling 146 shares during the quarter. Providence First Trust Co’s holdings in Eli Lilly and Company were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at $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 worth $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. increased its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Hara Capital LLC bought a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $58,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LLY. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Wolfe Research began 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. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Trading Up 1.7 %

NYSE:LLY opened at $920.44 on Friday. The company has a market cap of $872.73 billion, a PE ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a 50 day simple moving average of $814.88 and a two-hundred day simple moving average of $849.10. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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 issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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.