Goldstein Advisors LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Goldstein Advisors LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 627 shares of the company’s stock after selling 19 shares during the period. Goldstein Advisors LLC’s holdings in Eli Lilly and Company were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC lifted its holdings 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 buying an additional 20 shares during the period. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $784.78 on Friday. The business has a fifty day moving average of $776.69 and a 200 day moving average of $849.41. Eli Lilly and Company has a 1 year low of $624.68 and a 1 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. The firm has a market capitalization of $745.01 billion, a price-to-earnings ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

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 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 firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 0.76%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company announced that its board has initiated a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.