Eli Lilly and Company (NYSE:LLY) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,708 shares of the company’s stock after selling 942 shares during the period. Eli Lilly and Company accounts for about 1.2% of Hartford Investment Management Co.’s investment portfolio, making the stock its 12th biggest holding. Hartford Investment Management Co.’s holdings in Eli Lilly and Company were worth $37,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Hara Capital LLC bought a new stake in Eli Lilly and Company in the 3rd quarter valued at about $58,000. Finally, Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $50,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 0.9 %

Eli Lilly and Company stock opened at $872.98 on Thursday. The firm has a market cap of $828.74 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The firm’s 50 day moving average price is $792.27 and its two-hundred day moving average price is $843.94. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, research analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 is a positive change 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 0.69%. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LLY shares. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $997.50.

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.