Arete Wealth Advisors LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 25.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,438 shares of the company's stock after selling 1,894 shares during the period. Arete Wealth Advisors LLC's holdings in Eli Lilly and Company were worth $4,804,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Chesley Taft & Associates LLC lifted its holdings in Eli Lilly and Company by 5.4% during the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company's stock worth $20,419,000 after purchasing an additional 1,163 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in Eli Lilly and Company in the 2nd quarter valued at $239,000. Long Run Wealth Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter valued at $209,000. Essex Financial Services Inc. grew its position in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company's stock valued at $25,517,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its holdings in shares of Eli Lilly and Company by 1,420.5% in the second quarter. Franklin Street Advisors Inc. NC now owns 28,449 shares of the company's stock worth $25,757,000 after purchasing an additional 26,578 shares during the period. Institutional investors own 82.53% of the company's stock.
In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $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 accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.
Shares of LLY stock opened at $800.85 on Wednesday. The business's 50 day moving average price is $841.04 and its 200-day moving average price is $871.97. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm has a market cap of $760.26 billion, a P/E ratio of 86.58, a P/E/G ratio of 3.13 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 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 business posted $0.10 earnings per share. The company's revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.
Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
The company also recently declared 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 yield of 0.75%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is presently 56.22%.
Several equities analysts recently commented on the company. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a "hold" rating in a research report on Thursday, September 5th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price on the stock. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price target for the company. Finally, Barclays dropped their price objective 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. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,002.22.
View Our Latest Analysis on LLY
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.
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