Crews Bank & Trust Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Crews Bank & Trust bought a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,045 shares of the company's stock, valued at approximately $4,667,000. Eli Lilly and Company comprises 0.8% of Crews Bank & Trust's investment portfolio, making the stock its 26th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after buying an additional 24,879 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $17.75 during trading hours on Wednesday, hitting $843.82. The stock had a trading volume of 4,566,568 shares, compared to its average volume of 3,859,708. 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 50-day moving average price of $785.46 and a 200 day moving average price of $843.28. Eli Lilly and Company has a fifty-two week low of $691.10 and a fifty-two week high of $972.53. The firm has a market capitalization of $801.05 billion, a price-to-earnings ratio of 91.22, a PEG ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company declared that its board has approved a stock buyback plan 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 plans are usually an indication that the company's board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is 64.86%.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the 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 of the company's stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America restated 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. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft dropped their price objective 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 report on Monday, November 4th. StockNews.com downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

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.