Planned Solutions Inc. Sells 303 Shares of Eli Lilly and Company (NYSE:LLY)

Planned Solutions Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,610 shares of the company’s stock after selling 303 shares during the period. Eli Lilly and Company accounts for about 0.8% of Planned Solutions Inc.’s portfolio, making the stock its 19th biggest position. Planned Solutions Inc.’s holdings in Eli Lilly and Company were worth $2,015,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Beck Bode LLC bought a new position in Eli Lilly and Company during the second quarter valued at about $15,036,000. Sfmg LLC grew its position in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Sfmg LLC now owns 3,219 shares of the company’s stock valued at $2,915,000 after acquiring an additional 177 shares during the period. Royal Capital Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 5.2% during the 2nd quarter. Royal Capital Wealth Management LLC now owns 3,869 shares of the company’s stock worth $3,502,000 after purchasing an additional 191 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Eli Lilly and Company by 14.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 7,000 shares of the company’s stock worth $6,338,000 after purchasing an additional 908 shares during the period. Finally, Wescott Financial Advisory Group LLC lifted its stake in Eli Lilly and Company by 8.7% in the second quarter. Wescott Financial Advisory Group LLC now owns 9,274 shares of the company’s stock valued at $8,396,000 after purchasing an additional 744 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $753.65 on Thursday. The company’s fifty day moving average price is $777.46 and its 200-day moving average price is $851.61. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $715.46 billion, a price-to-earnings ratio of 81.48, a PEG ratio of 1.52 and a beta of 0.41. Eli Lilly and Company has a one year low of $614.82 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 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 firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate 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. Investors of record on Friday, February 14th will be given 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 payout ratio is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.