Brown Lisle Cummings Inc. Grows Stake in Eli Lilly and Company (NYSE:LLY)

Brown Lisle Cummings Inc. grew its position in Eli Lilly and Company (NYSE:LLY) by 60.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,278 shares of the company’s stock after purchasing an additional 1,234 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Eli Lilly and Company were worth $2,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LLY. AMF Tjanstepension AB grew its holdings in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares during the last quarter. Axiom Advisory LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter valued at $345,000. Country Trust Bank grew its holdings in shares of Eli Lilly and Company by 1.6% during the third quarter. Country Trust Bank now owns 95,627 shares of the company’s stock valued at $84,720,000 after buying an additional 1,500 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of 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 valued at $49,147,000 after buying an additional 12,769 shares during the last quarter. Finally, Reliant Investment Management LLC grew its holdings in shares of 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 valued at $1,229,000 after buying an additional 59 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated 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 $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LLY. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Citigroup dropped their price objective 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 report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 2.1 %

LLY opened at $843.82 on Thursday. Eli Lilly and Company has a twelve month low of $691.10 and a twelve month high of $972.53. 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 has a 50-day moving average price of $785.46 and a 200 day moving average price of $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.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. 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 is 64.86%.

Eli Lilly and Company 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.