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

UMB Bank n.a. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,625 shares of the company’s stock after selling 23,237 shares during the quarter. Eli Lilly and Company makes up about 1.2% of UMB Bank n.a.’s investment portfolio, making the stock its 19th largest holding. UMB Bank n.a.’s holdings in Eli Lilly and Company were worth $73,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. International Assets Investment Management LLC lifted its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after buying an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after buying an additional 692,303 shares during the period. Comerica Bank increased its stake in Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after buying an additional 631,312 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after acquiring an additional 584,866 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Up 2.2 %

Shares of NYSE LLY opened at $741.98 on Wednesday. Eli Lilly and Company has a 1 year low of $614.82 and a 1 year high of $972.53. The firm has a 50-day simple moving average of $779.00 and a two-hundred day simple moving average of $852.83. The company has a market cap of $704.38 billion, a P/E ratio of 80.21, a PEG ratio of 1.52 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

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 the consensus estimate 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 was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. 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 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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 report on Monday, November 4th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.