Gateway Investment Advisers LLC Has $121.66 Million Position in Eli Lilly and Company (NYSE:LLY)

Gateway Investment Advisers LLC lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,588 shares of the company's stock after selling 4,181 shares during the period. Eli Lilly and Company makes up approximately 1.4% of Gateway Investment Advisers LLC's holdings, making the stock its 12th biggest position. Gateway Investment Advisers LLC's holdings in Eli Lilly and Company were worth $121,658,000 as of its most recent SEC filing.

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

Eli Lilly and Company Price Performance

LLY traded down $31.36 during midday trading on Friday, hitting $726.24. The company had a trading volume of 5,497,108 shares, compared to its average volume of 2,736,766. Eli Lilly and Company has a twelve month low of $612.70 and a twelve month high of $972.53. The company has a market capitalization of $689.43 billion, a PE ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. 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's 50-day simple moving average is $781.14 and its 200-day simple moving average is $854.71.

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

Eli Lilly and Company Increases Dividend

The company also recently declared 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. 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. This represents a $6.00 annualized dividend and a yield of 0.83%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 56.22%.

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

Analyst Upgrades and Downgrades

LLY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on 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. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price objective on the stock. Bank of America reiterated a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,002.22.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction on 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

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.