Citizens Business Bank Has $642,000 Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Citizens Business Bank decreased its position in Eli Lilly and Company (NYSE:LLY) by 32.5% during the 3rd quarter, Holdings Channel reports. The firm owned 725 shares of the company’s stock after selling 349 shares during the quarter. Citizens Business Bank’s holdings in Eli Lilly and Company were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays dropped their target price on shares of 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. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on 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 seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Down 0.3 %

LLY opened at $800.85 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day moving average of $841.04 and a 200-day moving average of $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 company has a market capitalization 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.

Eli Lilly and Company (NYSE:LLY) last announced 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 firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. On average, equities analysts expect that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business 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 dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

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.