Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Robeco Institutional Asset Management B.V. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 775,683 shares of the company’s stock after selling 51,261 shares during the period. Eli Lilly and Company makes up 1.1% of Robeco Institutional Asset Management B.V.’s portfolio, making the stock its 11th largest position. Robeco Institutional Asset Management B.V.’s holdings in Eli Lilly and Company were worth $598,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted 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 valued at $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new position in Eli Lilly and Company during the third quarter worth $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $823.59 on Friday. The business’s 50-day moving average price is $780.80 and its 200 day moving average price is $845.98. 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 twelve month low of $637.00 and a twelve month high of $972.53. The company has a market capitalization of $781.85 billion, a PE ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its board has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

A number of research firms have commented on LLY. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Citigroup lowered 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. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $997.22.

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.