Arizona State Retirement System Has $181.39 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Arizona State Retirement System grew its stake in Eli Lilly and Company (NYSE:LLY) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 234,962 shares of the company’s stock after acquiring an additional 2,468 shares during the quarter. Eli Lilly and Company makes up approximately 1.1% of Arizona State Retirement System’s holdings, making the stock its 11th biggest holding. Arizona State Retirement System’s holdings in Eli Lilly and Company were worth $181,391,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth $30,000. Highline Wealth Partners LLC lifted its stake in shares of 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 purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. Finally, FPC Investment Advisory Inc. raised its stake in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY stock opened at $910.92 on Wednesday. The firm has a market cap of $863.70 billion, a price-to-earnings ratio of 77.79, a PEG ratio of 1.40 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.15 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. The company’s fifty day simple moving average is $819.86 and its 200 day simple moving average is $848.03.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 85.24%. On average, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. 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 dividend yield of 0.66%. Eli Lilly and Company’s payout ratio is presently 51.24%.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Truist Financial raised their price objective on shares of 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, February 3rd. Finally, Wells Fargo & Company dropped 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 research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.