InTrack Investment Management Inc Raises Holdings in Eli Lilly and Company (NYSE:LLY)

InTrack Investment Management Inc boosted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 28.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,516 shares of the company's stock after purchasing an additional 1,011 shares during the quarter. Eli Lilly and Company makes up approximately 2.3% of InTrack Investment Management Inc's holdings, making the stock its 7th largest position. InTrack Investment Management Inc's holdings in Eli Lilly and Company were worth $3,364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Beck Bode LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth $15,036,000. XTX Topco Ltd bought a new position in Eli Lilly and Company in the 2nd quarter valued at about $546,000. Benjamin F. Edwards & Company Inc. grew its position in Eli Lilly and Company by 3.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,723 shares of the company's stock valued at $7,898,000 after buying an additional 276 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Pacer Advisors Inc. now owns 68,017 shares of the company's stock worth $61,581,000 after buying an additional 3,713 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its stake in shares of Eli Lilly and Company by 14.8% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,262 shares of the company's stock worth $2,052,000 after acquiring an additional 291 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 4.1 %

LLY stock traded down $31.36 during mid-day trading on Friday, hitting $726.24. The stock had a trading volume of 5,497,108 shares, compared to its average volume of 2,736,766. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53. The company has a fifty day moving average of $781.14 and a 200 day moving average of $854.35. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company's revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. On average, equities analysts expect that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. Eli Lilly and Company's dividend payout ratio is currently 56.22%.

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

Analysts Set New Price Targets

A number of research firms recently commented on LLY. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, January 1st. Citigroup raised their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barclays dropped 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 research report on Thursday, October 31st. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,002.22.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.