Bank & Trust Co Sells 262 Shares of Eli Lilly and Company (NYSE:LLY)

Bank & Trust Co lowered its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,019 shares of the company’s stock after selling 262 shares during the quarter. Eli Lilly and Company makes up approximately 7.8% of Bank & Trust Co’s investment portfolio, making the stock its largest position. Bank & Trust Co’s holdings in Eli Lilly and Company were worth $9,279,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after buying an additional 11 shares during the period. Summit Financial Strategies Inc. grew its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares in the last quarter. Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares during the last quarter. O Brien Greene & Co. Inc increased its holdings in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after buying an additional 12 shares during the last quarter. Finally, Tcwp LLC lifted its holdings in Eli Lilly and Company by 2.3% in the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LLY shares. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $7.79 during mid-day trading on Tuesday, hitting $772.89. 1,647,081 shares of the company were exchanged, compared to its average volume of 2,308,161. The stock has a 50 day simple moving average of $791.18 and a 200-day simple moving average of $862.49. Eli Lilly and Company has a 1-year low of $609.59 and a 1-year high of $972.53. 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 firm has a market cap of $733.72 billion, a price-to-earnings ratio of 83.56, a price-to-earnings-growth ratio of 2.99 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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.