Optas LLC Has $3.01 Million Stake in Eli Lilly and Company (NYSE:LLY)

Optas LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 8.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,896 shares of the company’s stock after selling 373 shares during the period. Eli Lilly and Company makes up about 0.6% of Optas LLC’s portfolio, making the stock its 29th largest position. Optas LLC’s holdings in Eli Lilly and Company were worth $3,008,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC raised its holdings in 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 acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in 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 purchasing an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the third quarter worth about $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.1 %

Shares of LLY stock opened at $827.41 on Wednesday. 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 has a fifty-two week low of $682.53 and a fifty-two week high of $972.53. The stock has a 50 day simple moving average of $784.69 and a two-hundred day simple moving average of $843.49. The company has a market cap of $785.48 billion, a P/E ratio of 89.45, a PEG ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LLY shares. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial lifted their price target on 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. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.