AMI Asset Management Corp Sells 1,542 Shares of Eli Lilly and Company (NYSE:LLY)

AMI Asset Management Corp lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,651 shares of the company’s stock after selling 1,542 shares during the period. Eli Lilly and Company makes up 2.9% of AMI Asset Management Corp’s investment portfolio, making the stock its 14th largest holding. AMI Asset Management Corp’s holdings in Eli Lilly and Company were worth $53,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Transform Wealth LLC increased its holdings in shares of Eli Lilly and Company by 53.4% during the fourth quarter. Transform Wealth LLC now owns 7,778 shares of the company’s stock valued at $6,005,000 after acquiring an additional 2,707 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in Eli Lilly and Company by 244.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,973 shares of the company’s stock valued at $1,523,000 after purchasing an additional 1,400 shares during the last quarter. ADE LLC increased its stake in Eli Lilly and Company by 6.2% during the 4th quarter. ADE LLC now owns 275 shares of the company’s stock valued at $212,000 after purchasing an additional 16 shares in the last quarter. Charles Schwab Trust Co raised its holdings in Eli Lilly and Company by 42.0% in the fourth quarter. Charles Schwab Trust Co now owns 321 shares of the company’s stock worth $248,000 after buying an additional 95 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Eli Lilly and Company by 1.6% in the fourth quarter. Ballentine Partners LLC now owns 17,260 shares of the company’s stock worth $13,325,000 after buying an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

Eli Lilly and Company stock opened at $753.65 on Thursday. Eli Lilly and Company has a 12-month low of $614.82 and a 12-month high of $972.53. The firm has a market capitalization of $715.46 billion, a price-to-earnings ratio of 81.48, a P/E/G ratio of 1.52 and a beta of 0.41. The firm has a 50 day moving average of $777.46 and a 200 day moving average of $851.61. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LLY shares. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus 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.