Aaron Wealth Advisors LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Aaron Wealth Advisors LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,119 shares of the company’s stock after selling 285 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $3,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Comerica Bank grew its stake in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after buying an additional 631,312 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after buying an additional 584,866 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other 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 directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LLY shares. Truist Financial boosted their target price on 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. Wolfe Research assumed 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 objective on the stock. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Bank of America reaffirmed 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. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently 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 opened at $726.24 on Monday. 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. The firm has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The firm has a 50 day moving average of $781.14 and a 200 day moving average of $854.35.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, research 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 has approved a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 64.86%.

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.