Eli Lilly and Company (NYSE:LLY) Stock Position Lowered by Optas LLC

Optas LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,896 shares of the company’s stock after selling 373 shares during the quarter. Eli Lilly and Company makes up 0.6% of Optas LLC’s holdings, making the stock its 29th largest holding. Optas LLC’s holdings in Eli Lilly and Company were worth $3,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC grew its position in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Czech National Bank raised its holdings in Eli Lilly and Company by 5.6% in the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock worth $142,368,000 after acquiring an additional 8,566 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of Eli Lilly and Company by 11.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 1,931 shares of the company’s stock worth $1,711,000 after purchasing an additional 196 shares during the period. Finally, Versant Capital Management Inc increased its position in Eli Lilly and Company by 9.4% during the third quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $867,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

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

Eli Lilly and Company Stock Performance

Shares of LLY opened at $827.41 on Wednesday. Eli Lilly and Company has a twelve month low of $682.53 and a twelve month high of $972.53. 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 firm’s 50 day moving average price is $784.69 and its two-hundred day moving average price is $843.49. The firm 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 announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented 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. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Truist Financial raised 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 research report on Monday. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.