Eli Lilly and Company (NYSE:LLY) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after selling 1,400 shares during the period. Alberta Investment Management Corp's holdings in Eli Lilly and Company were worth $11,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company's stock worth $293,964,000 after buying an additional 176,552 shares during the last quarter. Values Added Financial LLC lifted its stake in Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company's stock valued at $324,000 after purchasing an additional 17 shares during the last quarter. Kessler Investment Group LLC lifted its position in shares of Eli Lilly and Company by 129.7% during the third quarter. Kessler Investment Group LLC now owns 5,687 shares of the company's stock worth $5,038,000 after acquiring an additional 3,211 shares in the last quarter. RFP Financial Group LLC lifted its position in shares of Eli Lilly and Company by 89.4% during the third quarter. RFP Financial Group LLC now owns 2,580 shares of the company's stock worth $2,285,000 after acquiring an additional 1,218 shares in the last quarter. Finally, Graybill Wealth Management LTD. lifted its position in shares of Eli Lilly and Company by 5.3% during the third quarter. Graybill Wealth Management LTD. now owns 895 shares of the company's stock worth $793,000 after acquiring an additional 45 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Bank of America reaffirmed a "buy" rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $3.50 during mid-day trading on Friday, reaching $876.62. 2,775,916 shares of the stock were exchanged, compared to its average volume of 3,728,728. The company has a market capitalization of $832.19 billion, a P/E ratio of 74.82, a P/E/G ratio of 1.39 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The business's 50 day moving average is $799.63 and its 200-day moving average is $846.07. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts' consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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. 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 0.68%. This is an increase 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 payout ratio is 51.24%.

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.