State of Alaska Department of Revenue Has $72.53 Million Stake in Eli Lilly and Company (NYSE:LLY)

State of Alaska Department of Revenue lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 93,949 shares of the company’s stock after selling 5,155 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of State of Alaska Department of Revenue’s holdings, making the stock its 12th biggest position. State of Alaska Department of Revenue’s holdings in Eli Lilly and Company were worth $72,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after buying an additional 85,823 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after acquiring an additional 157,741 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Eli Lilly and Company by 3.5% in the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after purchasing an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Eli Lilly and Company by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after purchasing an additional 12,044 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their price target 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, February 3rd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Trading Up 0.9 %

Shares of Eli Lilly and Company stock opened at $878.09 on Friday. The company’s 50-day moving average price is $788.21 and its 200-day moving average price is $843.47. 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 has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a market cap of $833.59 billion, a price-to-earnings ratio of 94.93, a PEG ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. On average, equities analysts expect that Eli Lilly and Company will post 12.85 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. Stockholders 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 dividend yield of 0.68%. The ex-dividend date of this dividend 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 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.