Eli Lilly and Company (NYSE:LLY) Position Trimmed by South Dakota Investment Council

South Dakota Investment Council lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,450 shares of the company’s stock after selling 2,459 shares during the quarter. Eli Lilly and Company makes up 1.0% of South Dakota Investment Council’s investment portfolio, making the stock its 12th largest holding. South Dakota Investment Council’s holdings in Eli Lilly and Company were worth $48,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Inscription Capital LLC grew its stake in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after buying an additional 12 shares in the last quarter. Garner Asset Management Corp grew its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Boston Financial Mangement LLC grew its stake in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after buying an additional 13 shares in the last quarter. Key Financial Inc grew its stake in shares of Eli Lilly and Company by 1.5% in the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after buying an additional 13 shares in the last quarter. Finally, Shoker Investment Counsel Inc. grew its stake in shares of Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $874.12 on Friday. The business has a fifty day simple moving average of $801.33 and a 200 day simple moving average of $847.13. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The firm has a market capitalization of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. 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 (NYSE:LLY) last announced its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial upped 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, February 3rd. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average 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.