Eli Lilly and Company (NYSE:LLY) Shares Sold by Welch Group LLC

Welch Group LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,500 shares of the company’s stock after selling 48 shares during the quarter. Welch Group LLC’s holdings in Eli Lilly and Company were worth $5,030,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LLY. AMF Tjanstepension AB grew its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Axiom Advisory LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $345,000. Country Trust Bank grew its stake in Eli Lilly and Company by 1.6% during the 3rd quarter. Country Trust Bank now owns 95,627 shares of the company’s stock valued at $84,720,000 after purchasing an additional 1,500 shares in the last quarter. Artemis Investment Management LLP grew its stake in Eli Lilly and Company by 29.9% during the 3rd quarter. Artemis Investment Management LLP now owns 55,474 shares of the company’s stock valued at $49,147,000 after purchasing an additional 12,769 shares in the last quarter. Finally, Reliant Investment Management LLC grew its stake in Eli Lilly and Company by 4.4% during the 3rd quarter. Reliant Investment Management LLC now owns 1,387 shares of the company’s stock valued at $1,229,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’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 value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LLY shares. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 2.1 %

LLY opened at $843.82 on Thursday. Eli Lilly and Company has a 12 month low of $691.10 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market cap of $801.05 billion, a P/E ratio of 91.22, a P/E/G ratio of 1.72 and a beta of 0.42. The stock’s 50 day moving average price is $785.46 and its 200 day moving average price is $843.28.

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

Eli Lilly and Company Increases Dividend

The firm 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 $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

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.