Alpha Cubed Investments LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Alpha Cubed Investments LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 16.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,471 shares of the company’s stock after selling 2,491 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Eli Lilly and Company were worth $9,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC boosted its stake in Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. boosted its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the period. Prio Wealth Limited Partnership grew its position in Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares during the last quarter. First Community Trust NA increased its stake in Eli Lilly and Company by 4.9% in the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after purchasing an additional 12 shares during the period. Finally, Hummer Financial Advisory Services Inc lifted its position in Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LLY shares. Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial lifted their price objective 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, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 1.5 %

LLY stock opened at $753.65 on Thursday. 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 1-year low of $614.82 and a 1-year high of $972.53. The stock has a market capitalization of $715.46 billion, a P/E ratio of 81.48, a P/E/G ratio of 1.52 and a beta of 0.41. The business has a fifty day moving average price of $777.46 and a 200-day moving average price of $851.61.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business earned $0.10 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 12.98 earnings per share 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. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

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.