Merrion Investment Management Co LLC Sells 350 Shares of Eli Lilly and Company (NYSE:LLY)

Merrion Investment Management Co LLC decreased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,600 shares of the company's stock after selling 350 shares during the period. Eli Lilly and Company comprises about 0.9% of Merrion Investment Management Co LLC's investment portfolio, making the stock its 25th biggest position. Merrion Investment Management Co LLC's holdings in Eli Lilly and Company were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC boosted its holdings in Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company's stock valued at $456,000 after acquiring an additional 110 shares during the period. AMF Tjanstepension AB boosted its stake in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company's stock valued at $293,964,000 after purchasing an additional 176,552 shares during the period. Czech National Bank grew its holdings in shares of Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company's stock worth $142,368,000 after purchasing an additional 8,566 shares during the last quarter. Unique Wealth LLC increased its stake in shares of Eli Lilly and Company by 303.7% in the third quarter. Unique Wealth LLC now owns 1,401 shares of the company's stock worth $1,241,000 after buying an additional 1,054 shares during the period. Finally, Canandaigua National Bank & Trust Co. boosted its position in Eli Lilly and Company by 24.1% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 8,332 shares of the company's stock valued at $7,382,000 after buying an additional 1,620 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction 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 approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

LLY stock traded up $13.28 during midday trading on Tuesday, reaching $823.71. 2,194,917 shares of the company's stock traded hands, compared to its average volume of 3,723,257. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $682.53 and a 52-week high of $972.53. The stock has a market cap of $781.96 billion, a P/E ratio of 89.05, a PEG ratio of 1.72 and a beta of 0.42. The stock's 50-day moving average is $784.69 and its 200 day moving average is $843.49.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. Eli Lilly and Company's payout ratio is 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized 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 usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an "outperform" rating and a $1,100.00 price target for the company. StockNews.com lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, January 30th. Finally, Barclays reduced 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. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

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.