Clarity Financial LLC Purchases 15,206 Shares of Eli Lilly and Company (NYSE:LLY)

Clarity Financial LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 88.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,492 shares of the company's stock after buying an additional 15,206 shares during the quarter. Eli Lilly and Company comprises 3.0% of Clarity Financial LLC's holdings, making the stock its 12th biggest position. Clarity Financial LLC's holdings in Eli Lilly and Company were worth $25,084,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strategic Wealth Investment Group LLC grew its position in Eli Lilly and Company by 46.9% in the fourth quarter. Strategic Wealth Investment Group LLC now owns 1,253 shares of the company's stock valued at $967,000 after acquiring an additional 400 shares during the last quarter. Cyr Financial Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $564,000. Mediolanum International Funds Ltd lifted its stake in shares of Eli Lilly and Company by 8.5% in the fourth quarter. Mediolanum International Funds Ltd now owns 125,769 shares of the company's stock worth $97,086,000 after acquiring an additional 9,892 shares during the period. Sivik Global Healthcare LLC lifted its stake in shares of Eli Lilly and Company by 3.4% in the fourth quarter. Sivik Global Healthcare LLC now owns 15,000 shares of the company's stock worth $11,580,000 after acquiring an additional 500 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $4,667,000. Institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LLY shares. 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 note on Thursday, October 31st. Bank of America reiterated a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday. StockNews.com downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $997.50.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Trading Up 2.1 %

LLY traded up $17.75 on Wednesday, hitting $843.82. 4,566,568 shares of the company were exchanged, compared to its average volume of 3,859,708. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a fifty day simple moving average of $785.46 and a two-hundred day simple moving average of $843.28. Eli Lilly and Company has a 12 month low of $691.10 and a 12 month high of $972.53.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. 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. Eli Lilly and Company's dividend payout ratio (DPR) is presently 64.86%.

Eli Lilly and Company announced that its board has approved a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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.