Louisiana State Employees Retirement System Trims Stake in Eli Lilly and Company (NYSE:LLY)

Louisiana State Employees Retirement System cut its stake in Eli Lilly and Company (NYSE:LLY) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,400 shares of the company’s stock after selling 2,000 shares during the period. Eli Lilly and Company accounts for approximately 0.6% of Louisiana State Employees Retirement System’s portfolio, making the stock its 14th largest position. Louisiana State Employees Retirement System’s holdings in Eli Lilly and Company were worth $32,733,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LLY. Summit Financial Strategies Inc. increased its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares in the last quarter. Prio Wealth Limited Partnership grew its holdings in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. Hummer Financial Advisory Services Inc increased its stake in shares of Eli Lilly and Company by 1.0% during the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after purchasing an additional 12 shares in the last quarter. James Hambro & Partners LLP lifted its holdings in shares of Eli Lilly and Company by 3.7% during the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after purchasing an additional 12 shares during the last quarter. Finally, Inscription Capital LLC boosted its position in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LLY. 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 for the company in a research report on Monday, November 4th. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. 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 on the stock. Finally, Truist Financial lifted their target price 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. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 0.9 %

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

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are 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.