Eli Lilly and Company (NYSE:LLY) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,616 shares of the company’s stock after selling 2,265 shares during the period. Eli Lilly and Company makes up 1.7% of Salem Investment Counselors Inc.’s portfolio, making the stock its 11th biggest position. Salem Investment Counselors Inc.’s holdings in Eli Lilly and Company were worth $52,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC grew its stake 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 purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

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

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $4.12 on Monday, hitting $795.78. The company’s stock had a trading volume of 1,723,306 shares, compared to its average volume of 2,912,773. The firm has a market cap of $755.45 billion, a P/E ratio of 86.03, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average price of $786.08 and a 200-day moving average price of $859.41. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. On average, equities analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change 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 0.75%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased 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 report on Monday, November 4th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently 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.