Central Pacific Bank Trust Division Sells 4,105 Shares of Eli Lilly and Company (NYSE:LLY)

Central Pacific Bank Trust Division trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,459 shares of the company's stock after selling 4,105 shares during the period. Eli Lilly and Company accounts for approximately 0.7% of Central Pacific Bank Trust Division's holdings, making the stock its 23rd largest holding. Central Pacific Bank Trust Division's holdings in Eli Lilly and Company were worth $4,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Everence Capital Management Inc. increased its stake in Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company's stock worth $17,246,000 after acquiring an additional 690 shares during the last quarter. Modus Advisors LLC raised its stake in shares of Eli Lilly and Company by 67.0% during the fourth quarter. Modus Advisors LLC now owns 800 shares of the company's stock valued at $618,000 after purchasing an additional 321 shares during the period. Versant Capital Management Inc lifted its stake in shares of Eli Lilly and Company by 19.2% in the fourth quarter. Versant Capital Management Inc now owns 1,167 shares of the company's stock worth $901,000 after acquiring an additional 188 shares in the last quarter. Old Port Advisors raised its position in shares of Eli Lilly and Company by 1.3% in the 4th quarter. Old Port Advisors now owns 1,283 shares of the company's stock valued at $991,000 after purchasing an additional 17 shares in the last quarter. Finally, SK Wealth Management LLC bought a new position in Eli Lilly and Company during the 3rd quarter valued at $264,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 0.5 %

NYSE LLY traded up $3.91 during trading on Friday, hitting $781.98. 1,798,905 shares of the company traded hands, compared to its average volume of 1,870,003. The business has a fifty day simple moving average of $796.03 and a 200 day simple moving average of $864.45. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $609.59 and a 12 month high of $972.53. The company has a market capitalization of $742.35 billion, a P/E ratio of 84.54, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during 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%. The business's revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 represents a $6.00 dividend on an annualized basis and a yield of 0.77%. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's payout ratio is 64.86%.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Citigroup lifted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price for the company. Evercore ISI upgraded shares of Eli Lilly and Company to a "hold" rating in a research report on Thursday, September 5th. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price target for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,002.22.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

About Eli Lilly and Company

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.