Eli Lilly and Company (NYSE:LLY) Position Raised by Webster Bank N. A.

Webster Bank N. A. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 7.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,097 shares of the company’s stock after buying an additional 142 shares during the period. Webster Bank N. A.’s holdings in Eli Lilly and Company were worth $1,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Eli Lilly and Company by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 62,733 shares of the company’s stock worth $48,430,000 after buying an additional 3,934 shares during the period. United Asset Strategies Inc. boosted its position in Eli Lilly and Company by 3.9% during the 4th quarter. United Asset Strategies Inc. now owns 4,304 shares of the company’s stock worth $3,323,000 after acquiring an additional 161 shares during the period. Cornerstone Wealth Group LLC grew its stake in Eli Lilly and Company by 0.7% during the 4th quarter. Cornerstone Wealth Group LLC now owns 12,648 shares of the company’s stock valued at $9,765,000 after acquiring an additional 85 shares in the last quarter. KBC Group NV grew its stake in Eli Lilly and Company by 4.1% during the 4th quarter. KBC Group NV now owns 589,009 shares of the company’s stock valued at $454,715,000 after acquiring an additional 23,174 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $49,534,000. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Trading Down 0.4 %

Shares of LLY opened at $804.87 on Wednesday. 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 $764.08 billion, a price-to-earnings ratio of 87.01, a PEG ratio of 1.59 and a beta of 0.41. The stock has a fifty day moving average price of $778.30 and a two-hundred day moving average price of $847.30. Eli Lilly and Company has a 52-week low of $637.00 and a 52-week high of $972.53.

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 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 business 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 firm earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. Eli Lilly and Company’s payout ratio is currently 56.22%.

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

Insider Transactions 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 stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

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.