Eli Lilly and Company (NYSE:LLY) Shares Bought by Means Investment CO. Inc.

Means Investment CO. Inc. boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,221 shares of the company’s stock after buying an additional 205 shares during the period. Means Investment CO. Inc.’s holdings in Eli Lilly and Company were worth $2,487,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Abner Herrman & Brock LLC increased its position in Eli Lilly and Company by 1.3% during the fourth quarter. Abner Herrman & Brock LLC now owns 26,857 shares of the company’s stock worth $20,734,000 after buying an additional 349 shares during the period. Family Investment Center Inc. increased its position in Eli Lilly and Company by 6.1% during the fourth quarter. Family Investment Center Inc. now owns 400 shares of the company’s stock worth $309,000 after buying an additional 23 shares during the period. Magnolia Capital Advisors LLC increased its position in Eli Lilly and Company by 27.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 583 shares of the company’s stock worth $450,000 after buying an additional 124 shares during the period. KPP Advisory Services LLC increased its position in Eli Lilly and Company by 3.3% during the fourth quarter. KPP Advisory Services LLC now owns 3,132 shares of the company’s stock worth $2,418,000 after buying an additional 101 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Eli Lilly and Company by 2.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 2,536 shares of the company’s stock worth $1,958,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

Eli Lilly and Company stock opened at $827.41 on Wednesday. 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 has a market capitalization of $785.48 billion, a price-to-earnings ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $682.53 and a fifty-two week high of $972.53. The stock’s fifty day moving average is $784.69 and its two-hundred day moving average is $843.49.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. 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 yield of 0.73%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its board has approved a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LLY. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, Citigroup cut their price target on 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. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on 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 owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.