Brooklyn Investment Group Sells 443 Shares of Eli Lilly and Company (NYSE:LLY)

Brooklyn Investment Group lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,196 shares of the company’s stock after selling 443 shares during the period. Eli Lilly and Company comprises approximately 1.2% of Brooklyn Investment Group’s investment portfolio, making the stock its 13th largest holding. Brooklyn Investment Group’s holdings in Eli Lilly and Company were worth $4,011,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LLY. International Assets Investment Management LLC boosted its holdings in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC raised its position in Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after acquiring an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC lifted its stake in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares during the last quarter. Comerica Bank grew its position in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after purchasing an additional 584,866 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LLY shares. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $726.24 on Friday. The firm has a 50 day simple moving average of $781.14 and a 200 day simple moving average of $854.71. The company has a market cap of $689.43 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a one year low of $612.70 and a one 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.

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 analyst estimates 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 revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. Research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.83%. Eli Lilly and Company’s payout ratio is presently 56.22%.

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

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.