Eli Lilly and Company (NYSE:LLY) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,068 shares of the company’s stock after selling 1,513 shares during the quarter. Eli Lilly and Company comprises about 0.9% of Forvis Mazars Wealth Advisors LLC’s holdings, making the stock its 22nd largest position. Forvis Mazars Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $38,653,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Lansing Street Advisors increased its stake in Eli Lilly and Company by 102.5% in the 4th quarter. Lansing Street Advisors now owns 1,312 shares of the company’s stock valued at $1,013,000 after buying an additional 664 shares during the period. Howard Capital Management Inc. boosted its position in shares of Eli Lilly and Company by 5.5% during the 4th quarter. Howard Capital Management Inc. now owns 7,530 shares of the company’s stock worth $5,813,000 after purchasing an additional 392 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Eli Lilly and Company by 23.8% during the 4th quarter. Wealthspire Advisors LLC now owns 8,709 shares of the company’s stock worth $6,724,000 after purchasing an additional 1,672 shares in the last quarter. Cohen Capital Management Inc. boosted its position in shares of Eli Lilly and Company by 8.7% during the 4th quarter. Cohen Capital Management Inc. now owns 338 shares of the company’s stock worth $261,000 after purchasing an additional 27 shares in the last quarter. Finally, Marshall Investment Management LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth $2,516,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.1 %

Shares of LLY stock opened at $874.12 on Friday. The firm has a 50-day moving average price of $801.33 and a 200 day moving average price of $847.13. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a market capitalization of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup decreased their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company 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.