North Point Portfolio Managers Corp OH Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

North Point Portfolio Managers Corp OH reduced its stake in Eli Lilly and Company (NYSE:LLY) by 85.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726 shares of the company’s stock after selling 4,400 shares during the quarter. North Point Portfolio Managers Corp OH’s holdings in Eli Lilly and Company were worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction 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. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. 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 report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Stock Down 0.2 %

Shares of NYSE:LLY opened at $803.01 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $779.81 and a two-hundred day simple moving average of $846.28. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53. The stock has a market capitalization of $762.31 billion, a price-to-earnings ratio of 86.81, a PEG ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the firm earned $0.10 EPS. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share 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 reacquire up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend 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.