TriaGen Wealth Management LLC Has $279,000 Stake in Eli Lilly and Company (NYSE:LLY)

TriaGen Wealth Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 65.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 362 shares of the company’s stock after selling 700 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Eli Lilly and Company were worth $279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC raised its position in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after acquiring an additional 110 shares in the last quarter. AMF Tjanstepension AB lifted its stake in shares of Eli Lilly and Company by 113.7% in the 3rd 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 last quarter. Czech National Bank boosted its holdings in 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 in the last quarter. GAMMA Investing LLC increased its position in Eli Lilly and Company by 24.3% during the third quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after buying an additional 2,833 shares during the last quarter. Finally, WealthBridge Capital Management LLC raised its holdings in Eli Lilly and Company by 55.6% during the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock valued at $4,650,000 after buying an additional 1,876 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. 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. Finally, Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Stock Down 1.4 %

NYSE:LLY opened at $811.61 on Monday. 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 12-month low of $637.00 and a 12-month high of $972.53. The stock’s fifty day simple moving average is $783.56 and its 200-day simple moving average is $844.18. The firm has a market capitalization of $770.48 billion, a P/E ratio of 87.74, a P/E/G ratio of 1.71 and a beta of 0.41.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, February 14th. 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 presently 56.22%.

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.