Perkins Coie Trust Co Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Perkins Coie Trust Co lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,050 shares of the company’s stock after purchasing an additional 136 shares during the period. Perkins Coie Trust Co’s holdings in Eli Lilly and Company were worth $4,671,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LLY. Beck Bode LLC purchased a new stake in Eli Lilly and Company in the second quarter valued at $15,036,000. XTX Topco Ltd purchased a new stake in Eli Lilly and Company in the second quarter valued at $546,000. Westwood Holdings Group Inc. lifted its position in Eli Lilly and Company by 1.9% in the second quarter. Westwood Holdings Group Inc. now owns 3,912 shares of the company’s stock valued at $3,542,000 after acquiring an additional 73 shares during the last quarter. Commonwealth Financial Services LLC lifted its position in Eli Lilly and Company by 2.4% in the second quarter. Commonwealth Financial Services LLC now owns 822 shares of the company’s stock valued at $755,000 after acquiring an additional 19 shares during the last quarter. Finally, Certified Advisory Corp lifted its position in Eli Lilly and Company by 3.6% in the second quarter. Certified Advisory Corp now owns 4,064 shares of the company’s stock valued at $3,679,000 after acquiring an additional 142 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LLY shares. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. 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 research note on Monday, November 4th. Truist Financial increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading Down 4.1 %

Shares of LLY opened at $726.24 on Tuesday. 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 firm has a 50 day simple moving average of $781.14 and a 200-day simple moving average of $854.04. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53. The stock has a market cap of $689.43 billion, a price-to-earnings ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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 is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.