Eli Lilly and Company (NYSE:LLY) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,795 shares of the company’s stock after selling 530 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Eli Lilly and Company were worth $2,930,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares during the last quarter. Boston Financial Mangement LLC increased its position in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after purchasing an additional 13 shares during the last quarter. Key Financial Inc raised its stake in shares of Eli Lilly and Company by 1.5% in the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after purchasing an additional 13 shares in the last quarter. Shoker Investment Counsel Inc. raised its stake in shares of Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after purchasing an additional 13 shares in the last quarter. Finally, Vestia Personal Wealth Advisors lifted its position in shares of Eli Lilly and Company by 1.7% during the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Finally, Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $915.47 on Thursday. The firm’s 50 day simple moving average is $808.88 and its 200 day simple moving average is $848.46. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a market capitalization of $868.02 billion, a price-to-earnings ratio of 78.18, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its 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 85.24% and a net margin of 23.51%. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

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.