Nabity Jensen Investment Management Inc Boosts Position in Eli Lilly and Company (NYSE:LLY)

Nabity Jensen Investment Management Inc grew its position in Eli Lilly and Company (NYSE:LLY) by 13.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,369 shares of the company’s stock after purchasing an additional 164 shares during the period. Eli Lilly and Company makes up 0.8% of Nabity Jensen Investment Management Inc’s holdings, making the stock its 28th biggest position. Nabity Jensen Investment Management Inc’s holdings in Eli Lilly and Company were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT lifted its stake in Eli Lilly and Company by 2.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,181 shares of the company’s stock valued at $18,272,000 after buying an additional 558 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Eli Lilly and Company by 0.9% in the second quarter. E Fund Management Co. Ltd. now owns 5,211 shares of the company’s stock valued at $4,718,000 after acquiring an additional 46 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Eli Lilly and Company by 0.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 694,060 shares of the company’s stock valued at $628,388,000 after acquiring an additional 2,681 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Eli Lilly and Company by 5.7% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,527 shares of the company’s stock worth $24,017,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Tredje AP fonden raised its stake in Eli Lilly and Company by 4.6% in the 2nd quarter. Tredje AP fonden now owns 229,293 shares of the company’s stock valued at $207,597,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial boosted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 0.2 %

Shares of LLY opened at $746.42 on Thursday. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The stock’s 50-day moving average is $784.63 and its two-hundred day moving average is $857.48. 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 $708.59 billion, a PE ratio of 80.69, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared 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. 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 yield of 0.80%. Eli Lilly and Company’s payout ratio is 64.86%.

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

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.