Retirement Systems of Alabama Purchases 105 Shares of Eli Lilly and Company (NYSE:LLY)

Retirement Systems of Alabama raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,105 shares of the company’s stock after acquiring an additional 105 shares during the quarter. Eli Lilly and Company comprises 0.6% of Retirement Systems of Alabama’s investment portfolio, making the stock its 25th biggest holding. Retirement Systems of Alabama’s holdings in Eli Lilly and Company were worth $159,442,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LLY. Independent Advisor Alliance increased its stake in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares in the last quarter. Apexium Financial LP raised its stake in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares during the period. Terril Brothers Inc. boosted its holdings in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares in the last quarter. Capital Planning LLC acquired a new stake in Eli Lilly and Company in the first quarter valued at approximately $262,000. Finally, Hartline Investment Corp increased its holdings in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after acquiring an additional 248 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a report on Friday, July 5th. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Two equities research 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 1,122,141 shares of company stock worth $991,938,411 in the last quarter. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY traded down $1.43 during trading on Friday, hitting $952.74. 2,063,309 shares of the company traded hands, compared to its average volume of 3,096,351. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The stock’s fifty day moving average is $886.32 and its 200 day moving average is $813.81. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market cap of $905.49 billion, a P/E ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.