UMB Bank n.a. Sells 23,237 Shares of Eli Lilly and Company (NYSE:LLY)

UMB Bank n.a. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,625 shares of the company’s stock after selling 23,237 shares during the period. Eli Lilly and Company accounts for 1.2% of UMB Bank n.a.’s holdings, making the stock its 19th biggest holding. UMB Bank n.a.’s holdings in Eli Lilly and Company were worth $73,050,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Strong Tower Advisory Services raised its holdings in Eli Lilly and Company by 3.3% in the fourth quarter. Strong Tower Advisory Services now owns 9,919 shares of the company’s stock worth $7,657,000 after purchasing an additional 318 shares in the last quarter. Wealth Management Partners LLC raised its stake in shares of Eli Lilly and Company by 2.6% during the 4th quarter. Wealth Management Partners LLC now owns 1,347 shares of the company’s stock worth $1,040,000 after acquiring an additional 34 shares in the last quarter. Sarasin & Partners LLP lifted its position in Eli Lilly and Company by 6.4% during the fourth quarter. Sarasin & Partners LLP now owns 255,495 shares of the company’s stock valued at $197,242,000 after acquiring an additional 15,260 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $1,021,000. Finally, Willner & Heller LLC grew its holdings in Eli Lilly and Company by 36.1% in the fourth quarter. Willner & Heller LLC now owns 841 shares of the company’s stock worth $649,000 after purchasing an additional 223 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LLY shares. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial lifted 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 research note on Thursday, October 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Up 2.2 %

Shares of Eli Lilly and Company stock opened at $741.98 on Wednesday. Eli Lilly and Company has a fifty-two week low of $614.82 and a fifty-two week high of $972.53. 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 company has a market cap of $704.38 billion, a P/E ratio of 80.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The firm has a 50-day simple moving average of $779.00 and a two-hundred day simple moving average of $852.83.

Eli Lilly and Company (NYSE:LLY) last issued 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). The business had revenue of $11.44 billion for 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 business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. As a group, equities analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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 transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.