Eli Lilly and Company (NYSE:LLY) is FFG Partners LLC’s 6th Largest Position

FFG Partners LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 41.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,051 shares of the company’s stock after purchasing an additional 5,020 shares during the quarter. Eli Lilly and Company makes up 5.2% of FFG Partners LLC’s portfolio, making the stock its 6th biggest position. FFG Partners LLC’s holdings in Eli Lilly and Company were worth $15,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC lifted its stake in Eli Lilly and Company by 5.4% in 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 shares of Eli Lilly and Company during the 2nd quarter worth $239,000. Long Run Wealth Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter valued at approximately $209,000. Essex Financial Services Inc. raised its holdings in Eli Lilly and Company by 5.8% in the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of Eli Lilly and Company by 1,420.5% in the 2nd 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 in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Transactions 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 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $6.05 during trading hours on Friday, reaching $788.40. 495,685 shares of the company were exchanged, compared to its average volume of 3,194,313. The company has a market cap of $748.44 billion, a price-to-earnings ratio of 84.58, a P/E/G ratio of 3.02 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s fifty day moving average is $835.43 and its two-hundred day moving average is $870.78.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm 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%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding 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 of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase 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 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered 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 research note on Monday, November 4th. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.