1ST Source Bank Sells 649 Shares of Eli Lilly and Company (NYSE:LLY)

1ST Source Bank lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,315 shares of the company’s stock after selling 649 shares during the quarter. Eli Lilly and Company accounts for 1.8% of 1ST Source Bank’s portfolio, making the stock its 11th biggest holding. 1ST Source Bank’s holdings in Eli Lilly and Company were worth $32,173,000 at the end of the most recent reporting period.

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

Eli Lilly and Company Trading Down 0.2 %

Eli Lilly and Company stock traded down $1.84 during mid-day trading on Friday, hitting $780.51. The company’s stock had a trading volume of 828,567 shares, compared to its average volume of 3,195,573. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The stock has a market cap of $740.95 billion, a PE ratio of 84.58, a P/E/G ratio of 3.02 and a beta of 0.41. The company has a 50 day moving average of $835.43 and a 200-day moving average of $870.78. 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) last posted its quarterly 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, research analysts anticipate that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.77%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’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 in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LLY shares. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley reiterated 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. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.