Verity Asset Management Inc. Has $534,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Verity Asset Management Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 49.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 692 shares of the company’s stock after selling 686 shares during the period. Verity Asset Management Inc.’s holdings in Eli Lilly and Company were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LLY. AMF Tjanstepension AB lifted its holdings in Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares in the last quarter. Axiom Advisory LLC bought a new position in Eli Lilly and Company during the third quarter worth about $345,000. Country Trust Bank lifted its holdings in Eli Lilly and Company by 1.6% during the third quarter. Country Trust Bank now owns 95,627 shares of the company’s stock worth $84,720,000 after acquiring an additional 1,500 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Eli Lilly and Company by 29.9% during the third quarter. Artemis Investment Management LLP now owns 55,474 shares of the company’s stock worth $49,147,000 after acquiring an additional 12,769 shares in the last quarter. Finally, Reliant Investment Management LLC lifted its holdings in Eli Lilly and Company by 4.4% during the third quarter. Reliant Investment Management LLC now owns 1,387 shares of the company’s stock worth $1,229,000 after acquiring an additional 59 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $843.82 on Thursday. The business’s 50 day moving average price is $785.46 and its two-hundred day moving average price is $843.28. The company has a market cap of $801.05 billion, a PE ratio of 91.22, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $691.10 and a twelve month high of $972.53.

Eli Lilly and Company declared that its Board of Directors has authorized a share 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 reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis 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 payout ratio is 64.86%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.