Eli Lilly and Company (NYSE:LLY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Eli Lilly and Company (NYSE:LLY) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,303,099 shares of the company’s stock after selling 57,631 shares during the period. Eli Lilly and Company accounts for approximately 26.5% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its biggest holding. PNC Financial Services Group Inc. owned about 5.40% of Eli Lilly and Company worth $39,605,993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after acquiring an additional 60,306 shares during the period. Hara Capital LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $58,000. Consolidated Planning Corp increased its stake in shares of Eli Lilly and Company by 64.3% during the third quarter. Consolidated Planning Corp now owns 5,254 shares of the company’s stock worth $4,655,000 after purchasing an additional 2,057 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of Eli Lilly and Company by 13.1% during the 3rd quarter. Portside Wealth Group LLC now owns 3,158 shares of the company’s stock worth $2,798,000 after purchasing an additional 365 shares during the last quarter. Finally, Mainstream Capital Management LLC purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $238,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,007.50.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $868.59 on Friday. The firm has a fifty day moving average of $826.63 and a two-hundred day moving average of $848.68. The firm has a market cap of $823.57 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

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

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared 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. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company 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.