Eli Lilly and Company (NYSE:LLY) Holdings Reduced by Alberta Investment Management Corp

Alberta Investment Management Corp decreased its position in Eli Lilly and Company (NYSE:LLY) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 1,400 shares during the period. Alberta Investment Management Corp’s holdings in Eli Lilly and Company were worth $11,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Inscription Capital LLC boosted its holdings in shares of Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp boosted its holdings in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Detalus Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 1.7% in the third quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock valued at $707,000 after acquiring an additional 13 shares in the last quarter. PSI Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 0.4% in the third quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock valued at $2,576,000 after acquiring an additional 13 shares in the last quarter. Finally, Boston Financial Mangement LLC boosted its holdings in shares of Eli Lilly and Company by 0.3% in the third quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after acquiring an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $866.69 on Thursday. The company’s fifty day moving average is $797.80 and its 200-day moving average is $845.87. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The firm has a market cap of $822.77 billion, a price-to-earnings ratio of 74.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a positive change 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 0.69%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average 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.