Braun Bostich & Associates Inc. Sells 40 Shares of Eli Lilly and Company (NYSE:LLY)

Braun Bostich & Associates Inc. lessened its position in Eli Lilly and Company (NYSE:LLY) by 7.3% during the fourth quarter, Holdings Channel reports. The fund owned 508 shares of the company’s stock after selling 40 shares during the period. Braun Bostich & Associates Inc.’s holdings in Eli Lilly and Company were worth $392,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LLY. Beck Bode LLC bought a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $15,036,000. AQR Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 17.3% in the 2nd quarter. AQR Capital Management LLC now owns 474,552 shares of the company’s stock worth $429,650,000 after acquiring an additional 70,122 shares during the last quarter. APG Asset Management US Inc. boosted its stake in shares of Eli Lilly and Company by 0.8% in the 2nd quarter. APG Asset Management US Inc. now owns 204,328 shares of the company’s stock valued at $186,831,000 after purchasing an additional 1,586 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Eli Lilly and Company by 6.7% during the 2nd quarter. APG Asset Management N.V. now owns 703,220 shares of the company’s stock valued at $594,058,000 after purchasing an additional 44,133 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Eli Lilly and Company by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after purchasing an additional 22,392 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial lifted 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. 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 currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $766.00 on Friday. The business’s fifty day moving average is $776.31 and its 200 day moving average is $850.93. 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 stock has a market cap of $727.18 billion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.56 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $624.68 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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). 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 during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared 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 is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.