Los Angeles Capital Management LLC Sells 153,715 Shares of Eli Lilly and Company (NYSE:LLY)

Los Angeles Capital Management LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 32.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,670 shares of the company’s stock after selling 153,715 shares during the period. Eli Lilly and Company comprises about 1.0% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Los Angeles Capital Management LLC’s holdings in Eli Lilly and Company were worth $242,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AMF Tjanstepension AB raised its stake in shares of Eli Lilly and Company by 113.7% in the third 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. Values Added Financial LLC raised its stake in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. Covenant Partners LLC boosted its position in shares of Eli Lilly and Company by 436.6% during the 3rd quarter. Covenant Partners LLC now owns 5,371 shares of the company’s stock valued at $4,758,000 after acquiring an additional 4,370 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Eli Lilly and Company by 5.1% in the third quarter. GHP Investment Advisors Inc. now owns 1,848 shares of the company’s stock valued at $1,638,000 after acquiring an additional 89 shares during the period. Finally, National Mutual Insurance Federation of Agricultural Cooperatives acquired a new position in Eli Lilly and Company in the third quarter worth about $15,061,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LLY shares. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Stock Up 0.9 %

Shares of NYSE:LLY opened at $881.83 on Tuesday. The stock has a market capitalization of $836.12 billion, a P/E ratio of 75.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The stock’s 50-day moving average price is $803.38 and its 200-day moving average price is $847.92. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month 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 analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.68%. 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 presently 51.24%.

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

Eli Lilly and 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.