Eli Lilly and Company (NYSE:LLY) Shares Purchased by Valley National Advisers Inc.

Valley National Advisers Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 4,573 shares of the company’s stock after buying an additional 255 shares during the period. Valley National Advisers Inc.’s holdings in Eli Lilly and Company were worth $3,530,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LLY. McAdam LLC raised its stake in shares of Eli Lilly and Company by 7.2% in the fourth quarter. McAdam LLC now owns 3,377 shares of the company’s stock valued at $2,607,000 after acquiring an additional 227 shares in the last quarter. River Street Advisors LLC grew its holdings in shares of Eli Lilly and Company by 0.6% during the fourth quarter. River Street Advisors LLC now owns 3,169 shares of the company’s stock worth $2,447,000 after purchasing an additional 20 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $108,000. U.S. Capital Wealth Advisors LLC lifted its position in Eli Lilly and Company by 134.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 20,176 shares of the company’s stock valued at $15,576,000 after purchasing an additional 11,556 shares during the period. Finally, Nadler Financial Group Inc. lifted its position in Eli Lilly and Company by 8.3% in the fourth quarter. Nadler Financial Group Inc. now owns 2,741 shares of the company’s stock valued at $2,116,000 after purchasing an additional 210 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $811.47 on Tuesday. Eli Lilly and Company has a 12 month low of $682.53 and a 12 month high of $972.53. The firm has a market cap of $770.35 billion, a PE ratio of 87.73, 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. The company’s 50-day moving average price is $783.56 and its two-hundred day moving average price is $843.75.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. 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 dividend yield of 0.74%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Eli Lilly and Company announced that its board has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. 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. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Citigroup dropped their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” 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. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

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.