Sanibel Captiva Trust Company Inc. Acquires 4,065 Shares of Eli Lilly and Company (NYSE:LLY)

Sanibel Captiva Trust Company Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,165 shares of the company’s stock after purchasing an additional 4,065 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Eli Lilly and Company were worth $18,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC increased its holdings in 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 acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the period. Finally, West Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the third quarter valued at about $58,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $726.24 on Monday. Eli Lilly and Company has a twelve month low of $612.70 and a twelve month 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 company has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. The stock’s 50 day moving average is $781.14 and its 200 day moving average is $854.35.

Eli Lilly and Company (NYSE:LLY) last issued its 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 during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. 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 payout ratio is 64.86%.

Analyst Upgrades and Downgrades

LLY has been the topic of several research reports. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

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.