Valley National Advisers Inc. Has $3.53 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Valley National Advisers Inc. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,573 shares of the company’s stock after purchasing an additional 255 shares during the period. Valley National Advisers Inc.’s holdings in Eli Lilly and Company were worth $3,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LLY. Algert Global LLC grew its stake in shares of Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares in the last quarter. AMF Tjanstepension AB grew its stake in shares of Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares in the last quarter. Czech National Bank grew its stake in shares of Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after buying an additional 8,566 shares in the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 24.3% during the third quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after purchasing an additional 2,833 shares during the period. Finally, WealthBridge Capital Management LLC boosted its position in Eli Lilly and Company by 55.6% during the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after purchasing an additional 1,876 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. 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 on the stock in a research report on Monday, November 4th. Barclays reduced 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 report on Thursday, October 31st. Finally, Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $811.47 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business has a 50-day simple moving average of $783.56 and a two-hundred day simple moving average of $843.75. The stock has a market cap of $770.35 billion, a price-to-earnings ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $682.53 and a 52 week high of $972.53.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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

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.