Eli Lilly and Company (NYSE:LLY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 297,310 shares of the company's stock after selling 942 shares during the period. Eli Lilly and Company makes up 0.9% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 14th largest position. State of New Jersey Common Pension Fund D's holdings in Eli Lilly and Company were worth $229,523,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC lifted its stake in 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 acquiring an additional 20 shares in the last quarter. Hara Capital LLC acquired a new position in Eli Lilly and Company during the 3rd quarter worth about $58,000. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

LLY has been the topic of several research reports. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $1.00 during mid-day trading on Friday, reaching $874.12. 3,937,537 shares of the stock were exchanged, compared to its average volume of 3,765,032. The company has a 50 day simple moving average of $801.33 and a 200-day simple moving average of $846.75. The stock has a market capitalization of $829.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

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

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company declared that its board 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.