JLB & Associates Inc. Sells 1,503 Shares of Eli Lilly and Company (NYSE:LLY)

JLB & Associates Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,650 shares of the company's stock after selling 1,503 shares during the quarter. JLB & Associates Inc.'s holdings in Eli Lilly and Company were worth $9,766,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Suncoast Equity Management raised its holdings in shares of Eli Lilly and Company by 60.2% in the fourth quarter. Suncoast Equity Management now owns 41,779 shares of the company's stock valued at $32,253,000 after buying an additional 15,698 shares during the last quarter. Prakash Investment Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter worth about $1,013,000. Mattern Capital Management LLC raised its holdings in Eli Lilly and Company by 183.2% during the 4th quarter. Mattern Capital Management LLC now owns 807 shares of the company's stock worth $623,000 after purchasing an additional 522 shares during the last quarter. Forte Capital LLC ADV raised its holdings in Eli Lilly and Company by 36.7% during the 4th quarter. Forte Capital LLC ADV now owns 2,217 shares of the company's stock worth $1,711,000 after purchasing an additional 595 shares during the last quarter. Finally, ING Groep NV raised its holdings in Eli Lilly and Company by 2,395.0% during the 4th quarter. ING Groep NV now owns 107,336 shares of the company's stock worth $82,863,000 after purchasing an additional 103,034 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 0.1 %

Shares of LLY traded up $1.00 on Friday, hitting $874.12. The company's stock had a trading volume of 3,937,537 shares, compared to its average volume of 3,765,032. 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 firm's fifty day moving average price is $799.63 and its 200-day moving average price is $846.07. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm has a market capitalization of $829.82 billion, a price-to-earnings ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42.

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

Eli Lilly and Company declared that its board has authorized a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio is 51.24%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Bank of America reissued a "buy" rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $997.50.

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.