Swedbank AB Has $879.26 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Swedbank AB grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,138,934 shares of the company’s stock after acquiring an additional 28,426 shares during the period. Eli Lilly and Company accounts for 1.1% of Swedbank AB’s holdings, making the stock its 15th largest position. Swedbank AB’s holdings in Eli Lilly and Company were worth $879,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Summit Financial Strategies Inc. raised its stake in Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares in the last quarter. Prio Wealth Limited Partnership raised its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after buying an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after buying an additional 12 shares during the period. James Hambro & Partners LLP grew its position in Eli Lilly and Company by 3.7% during the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after buying an additional 12 shares in the last quarter. Finally, Inscription Capital LLC increased its stake in Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 1.4 %

Shares of NYSE LLY opened at $811.61 on Friday. The company has a 50 day simple moving average of $782.29 and a 200 day simple moving average of $845.82. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $637.00 and a 1 year high of $972.53. The firm has a market cap of $770.48 billion, a PE ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the business posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 12.85 EPS for the current year.

Eli Lilly and Company announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Truist Financial raised their target price 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 initiated 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 target for the company. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.22.

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.