Capital Market Strategies LLC Has $2.72 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Capital Market Strategies LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 3,518 shares of the company’s stock after buying an additional 48 shares during the quarter. Eli Lilly and Company accounts for about 1.6% of Capital Market Strategies LLC’s holdings, making the stock its 12th biggest holding. Capital Market Strategies LLC’s holdings in Eli Lilly and Company were worth $2,716,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $30,000. Cedar Mountain Advisors LLC raised 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 valued at $41,000 after purchasing an additional 16 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the period. Finally, West Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 1.4 %

LLY stock traded down $11.20 during trading on Monday, reaching $770.78. 1,452,548 shares of the company traded hands, compared to its average volume of 1,674,789. The business has a 50 day simple moving average of $793.82 and a 200 day simple moving average of $863.35. 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 has a 12 month low of $609.59 and a 12 month high of $972.53. The company has a market capitalization of $731.71 billion, a price-to-earnings ratio of 83.33, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm 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%. Eli Lilly and Company’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 firm posted $0.10 earnings per share. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated 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 purchase up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. 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 dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is 64.86%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial boosted their target price on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Barclays dropped 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. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.