Legacy Bridge LLC Sells 19 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Bridge LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,388 shares of the company’s stock after selling 19 shares during the period. Eli Lilly and Company comprises approximately 1.4% of Legacy Bridge LLC’s investment portfolio, making the stock its 13th biggest position. Legacy Bridge LLC’s holdings in Eli Lilly and Company were worth $2,616,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LLY. Wetzel Investment Advisors Inc. increased its position in Eli Lilly and Company by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 9,639 shares of the company’s stock worth $7,442,000 after purchasing an additional 83 shares in the last quarter. BankPlus Wealth Management LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth about $761,000. Level Financial Advisors raised its position in Eli Lilly and Company by 18.2% in the fourth quarter. Level Financial Advisors now owns 423 shares of the company’s stock valued at $327,000 after purchasing an additional 65 shares during the last quarter. Court Place Advisors LLC raised its position in Eli Lilly and Company by 2.4% in the fourth quarter. Court Place Advisors LLC now owns 1,274 shares of the company’s stock valued at $984,000 after purchasing an additional 30 shares during the last quarter. Finally, Nilsine Partners LLC boosted its stake in shares of Eli Lilly and Company by 5.3% during the fourth quarter. Nilsine Partners LLC now owns 11,916 shares of the company’s stock valued at $9,199,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $803.01 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a fifty day simple moving average of $779.81 and a two-hundred day simple moving average of $846.28. Eli Lilly and Company has a 12 month low of $637.00 and a 12 month high of $972.53. The firm has a market capitalization of $762.31 billion, a PE ratio of 86.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) 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). The business 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 company’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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 represents a $6.00 annualized dividend and a dividend yield of 0.75%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its board has approved a stock 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 repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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 note on Monday, November 4th. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Barclays cut their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $997.22.

Insider Buying and Selling

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 transaction of $723,042.00. Following the transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

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.