Rhumbline Advisers Sells 25,869 Shares of Eli Lilly and Company (NYSE:LLY)

Rhumbline Advisers reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,488,789 shares of the company’s stock after selling 25,869 shares during the quarter. Eli Lilly and Company comprises approximately 1.0% of Rhumbline Advisers’ holdings, making the stock its 12th largest holding. Rhumbline Advisers’ holdings in Eli Lilly and Company were worth $1,149,345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its holdings in Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after buying an additional 724 shares during the period. M&T Bank Corp raised its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after buying an additional 1,867 shares during the period. Kentucky Trust Co purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $834,000. Cooper Financial Group raised its holdings in Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after buying an additional 695 shares during the period. Finally, Everence Capital Management Inc. raised its holdings in Eli Lilly and Company by 3.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $844.82 on Friday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The stock’s 50-day moving average is $794.44 and its 200 day moving average is $844.60. The company has a market cap of $802.01 billion, a P/E ratio of 72.15, a PEG ratio of 1.87 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.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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 represents a $6.00 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

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

Analyst Ratings Changes

Several analysts recently weighed in on LLY shares. Barclays decreased 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. Truist Financial increased 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 note on Monday, February 3rd. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft reduced 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 note on Monday, November 4th. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

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.