Stock Yards Bank & Trust Co. Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Stock Yards Bank & Trust Co. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,376 shares of the company’s stock after purchasing an additional 3,132 shares during the quarter. Eli Lilly and Company accounts for approximately 2.9% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 6th biggest position. Stock Yards Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $85,210,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Summit Financial Strategies Inc. increased its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership increased its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc raised its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock worth $1,126,000 after purchasing an additional 12 shares during the last quarter. James Hambro & Partners LLP grew its stake in shares of Eli Lilly and Company by 3.7% in the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after acquiring an additional 12 shares in the last quarter. Finally, Inscription Capital LLC increased its position in shares of Eli Lilly and Company by 1.0% during the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays dropped 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. Wells Fargo & Company decreased their price objective 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 report on Tuesday, January 28th. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Trading Up 0.0 %

Eli Lilly and Company stock 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 business’s fifty day simple moving average is $783.56 and its two-hundred day simple moving average is $843.75. The company has a market capitalization of $770.35 billion, a price-to-earnings ratio of 87.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.