City Center Advisors LLC Buys 29 Shares of Eli Lilly and Company (NYSE:LLY)

City Center Advisors LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 565 shares of the company’s stock after purchasing an additional 29 shares during the period. City Center Advisors LLC’s holdings in Eli Lilly and Company were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares in the last quarter. Summit Financial Strategies Inc. raised its position in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the last quarter. Prio Wealth Limited Partnership boosted its stake in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after purchasing an additional 11 shares in the last quarter. O Brien Greene & Co. Inc grew its holdings in shares of Eli Lilly and Company by 1.3% during the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after purchasing an additional 12 shares during the last quarter. Finally, Tcwp LLC increased its stake in shares of Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Up 1.5 %

LLY stock opened at $799.39 on Monday. The stock’s 50 day simple moving average is $786.08 and its 200 day simple moving average is $859.41. The company has a market cap of $758.87 billion, a P/E ratio of 86.42, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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 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 dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price target on 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 raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.