Eli Lilly and Company (NYSE:LLY) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its position in Eli Lilly and Company (NYSE:LLY) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,822 shares of the company’s stock after acquiring an additional 1,867 shares during the period. Eli Lilly and Company makes up about 0.7% of M&T Bank Corp’s investment portfolio, making the stock its 28th biggest position. M&T Bank Corp’s holdings in Eli Lilly and Company were worth $236,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Chesley Taft & Associates LLC grew its holdings in shares of 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 acquiring an additional 1,163 shares during the period. OMNI 360 Wealth Inc. acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $239,000. Long Run Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $209,000. Essex Financial Services Inc. grew its holdings in Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in Eli Lilly and Company by 1,420.5% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 28,449 shares of the company’s stock valued at $25,757,000 after buying an additional 26,578 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 2.9 %

NYSE:LLY opened at $802.94 on Tuesday. The business’s 50-day moving average is $841.04 and its two-hundred day moving average is $871.97. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The firm has a market capitalization of $762.25 billion, a PE ratio of 86.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. 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 presently 56.22%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LLY shares. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Citigroup increased their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Guggenheim raised their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.