Eli Lilly and Company (NYSE:LLY) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 30.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 893 shares of the company’s stock after selling 392 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Eli Lilly and Company were worth $689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. Highview Capital Management LLC DE increased its holdings in Eli Lilly and Company by 4.6% during the 4th quarter. Highview Capital Management LLC DE now owns 7,071 shares of the company’s stock valued at $5,459,000 after acquiring an additional 308 shares in the last quarter. Mathes Company Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $432,000. Woodard & Co. Asset Management Group Inc. ADV increased its stake in shares of Eli Lilly and Company by 6.0% during the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,211 shares of the company’s stock worth $1,707,000 after purchasing an additional 126 shares in the last quarter. Advanced Asset Management Advisors Inc raised its position in shares of Eli Lilly and Company by 35.5% during the 4th quarter. Advanced Asset Management Advisors Inc now owns 485 shares of the company’s stock worth $374,000 after purchasing an additional 127 shares during the last quarter. Finally, National Mutual Insurance Federation of Agricultural Cooperatives lifted its stake in Eli Lilly and Company by 15.3% in the 4th quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 19,600 shares of the company’s stock valued at $15,131,000 after buying an additional 2,600 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 3.1 %

Eli Lilly and Company stock opened at $844.82 on Tuesday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The firm’s 50-day moving average is $794.44 and its 200-day moving average is $845.27. 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 company has a market cap of $802.01 billion, a P/E ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, equities analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 0.71%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

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

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup decreased their price target 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 research note on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.