Westside Investment Management Inc. Sells 105 Shares of Eli Lilly and Company (NYSE:LLY)

Westside Investment Management Inc. lowered its position in Eli Lilly and Company (NYSE:LLY) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,963 shares of the company’s stock after selling 105 shares during the period. Westside Investment Management Inc.’s holdings in Eli Lilly and Company were worth $1,515,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Beck Bode LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $15,036,000. Drucker Wealth 3.0 LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $437,000. Dark Forest Capital Management LP purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $534,000. MBB Public Markets I LLC grew its holdings in shares of Eli Lilly and Company by 3,705.6% during the 2nd quarter. MBB Public Markets I LLC now owns 57,465 shares of the company’s stock valued at $52,028,000 after purchasing an additional 55,955 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its position in Eli Lilly and Company by 345.4% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 25,538 shares of the company’s stock worth $23,122,000 after purchasing an additional 19,804 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Trading Up 2.4 %

Shares of NYSE LLY opened at $784.78 on Friday. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year 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 firm has a 50-day moving average of $775.91 and a 200 day moving average of $850.34. The stock has a market cap of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $12.09 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

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

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.