Pinnacle Bancorp Inc. Acquires 46 Shares of Eli Lilly and Company (NYSE:LLY)

Pinnacle Bancorp Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,269 shares of the company’s stock after purchasing an additional 46 shares during the period. Eli Lilly and Company accounts for about 1.3% of Pinnacle Bancorp Inc.’s holdings, making the stock its 14th biggest position. Pinnacle Bancorp Inc.’s holdings in Eli Lilly and Company were worth $4,068,000 at the end of the most recent quarter.

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

Eli Lilly and Company Stock Up 1.6 %

Shares of NYSE:LLY opened at $758.70 on Friday. The stock has a market capitalization of $720.25 billion, a P/E ratio of 82.02, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The stock’s 50-day moving average price is $784.03 and its 200-day moving average price is $856.70. 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 has a 12-month low of $612.70 and a 12-month high of $972.53.

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). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 0.79%. 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%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated 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 $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wolfe Research initiated 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. Deutsche Bank Aktiengesellschaft decreased 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 note on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

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.