JLB & Associates Inc. Sells 1,503 Shares of Eli Lilly and Company (NYSE:LLY)

JLB & Associates Inc. trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,650 shares of the company’s stock after selling 1,503 shares during the period. JLB & Associates Inc.’s holdings in Eli Lilly and Company were worth $9,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Suncoast Equity Management lifted its position in Eli Lilly and Company by 60.2% during the fourth quarter. Suncoast Equity Management now owns 41,779 shares of the company’s stock valued at $32,253,000 after purchasing an additional 15,698 shares during the last quarter. Prakash Investment Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $1,013,000. Mattern Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 183.2% during the 4th quarter. Mattern Capital Management LLC now owns 807 shares of the company’s stock worth $623,000 after acquiring an additional 522 shares during the last quarter. Forte Capital LLC ADV lifted its holdings in shares of Eli Lilly and Company by 36.7% during the 4th quarter. Forte Capital LLC ADV now owns 2,217 shares of the company’s stock worth $1,711,000 after acquiring an additional 595 shares during the last quarter. Finally, ING Groep NV grew its position in Eli Lilly and Company by 2,395.0% in the fourth quarter. ING Groep NV now owns 107,336 shares of the company’s stock worth $82,863,000 after acquiring an additional 103,034 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Up 0.8 %

NYSE LLY opened at $873.77 on Friday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market capitalization of $829.49 billion, a PE ratio of 74.62, a PEG ratio of 1.39 and a beta of 0.42. 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 business’s 50-day moving average is $799.63 and its 200 day moving average is $846.07.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 return on equity of 86.26% and a net margin of 23.51%. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.