Courier Capital LLC Sells 262 Shares of Eli Lilly and Company (NYSE:LLY)

Courier Capital LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820 shares of the company’s stock after selling 262 shares during the period. Courier Capital LLC’s holdings in Eli Lilly and Company were worth $3,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parisi Gray Wealth Management grew its stake in Eli Lilly and Company by 1.2% in the fourth quarter. Parisi Gray Wealth Management now owns 5,671 shares of the company’s stock valued at $4,378,000 after purchasing an additional 65 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,149 shares of the company’s stock valued at $13,239,000 after buying an additional 463 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Eli Lilly and Company by 89.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 13,313 shares of the company’s stock valued at $10,277,000 after buying an additional 6,294 shares in the last quarter. Sunflower Bank N.A. grew its stake in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Sunflower Bank N.A. now owns 1,800 shares of the company’s stock valued at $1,390,000 after buying an additional 56 shares in the last quarter. Finally, Davis Investment Partners LLC increased its holdings in Eli Lilly and Company by 23.8% during the fourth quarter. Davis Investment Partners LLC now owns 1,061 shares of the company’s stock worth $849,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.3 %

Shares of NYSE:LLY opened at $797.17 on Tuesday. The business’s 50 day simple moving average is $785.91 and its 200 day simple moving average is $858.62. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $756.77 billion, a P/E ratio of 86.18, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Citigroup raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

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.