Atlantic Union Bankshares Corp Sells 550 Shares of Eli Lilly and Company (NYSE:LLY)

Atlantic Union Bankshares Corp cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,924 shares of the company’s stock after selling 550 shares during the period. Atlantic Union Bankshares Corp’s holdings in Eli Lilly and Company were worth $8,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. Principal Financial Group Inc. raised its holdings in shares of Eli Lilly and Company by 5.3% in the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after buying an additional 60,306 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Eli Lilly and Company in the third quarter worth $58,000. Consolidated Planning Corp raised its holdings in shares of Eli Lilly and Company by 64.3% in the third quarter. Consolidated Planning Corp now owns 5,254 shares of the company’s stock worth $4,655,000 after buying an additional 2,057 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of Eli Lilly and Company by 13.1% in the third quarter. Portside Wealth Group LLC now owns 3,158 shares of the company’s stock worth $2,798,000 after buying an additional 365 shares during the last quarter. Finally, Mainstream Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the third quarter worth $238,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a report on Friday, January 17th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,007.50.

Eli Lilly and Company Stock Down 4.8 %

Shares of NYSE LLY opened at $868.59 on Friday. The company’s 50-day simple moving average is $826.63 and its 200-day simple moving average is $848.68. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The firm has a market cap of $823.57 billion, a price-to-earnings ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 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 (EPS) 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given 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 payout ratio is presently 51.24%.

Eli Lilly and Company declared that its board has authorized a share repurchase program 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 programs are typically a sign that the company’s management believes its stock is undervalued.

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.