Forsta AP Fonden Sells 1,600 Shares of Eli Lilly and Company (NYSE:LLY)

Forsta AP Fonden decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,351 shares of the company's stock after selling 1,600 shares during the period. Eli Lilly and Company comprises 1.2% of Forsta AP Fonden's portfolio, making the stock its 13th largest holding. Forsta AP Fonden's holdings in Eli Lilly and Company were worth $162,391,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LLY shares. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price target on the stock. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price for the company. StockNews.com downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday. Truist Financial upped their price objective on 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. Finally, Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $997.22.

Eli Lilly and Company Trading Up 2.4 %

Shares of NYSE LLY opened at $823.59 on Friday. Eli Lilly and Company has a twelve month low of $637.00 and a twelve month high of $972.53. The stock has a market cap of $781.85 billion, a price-to-earnings ratio of 89.04, a P/E/G ratio of 1.71 and a beta of 0.41. 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's fifty day moving average is $782.29 and its 200-day moving average is $845.82.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 12.85 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date 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 payout ratio is 56.22%.

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

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and 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.