Eli Lilly and Company (NYSE:LLY) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,080 shares of the company’s stock after selling 224 shares during the quarter. Eli Lilly and Company accounts for 0.9% of CENTRAL TRUST Co’s investment portfolio, making the stock its 29th largest position. CENTRAL TRUST Co’s holdings in Eli Lilly and Company were worth $34,802,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Algert Global LLC raised its stake in Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares in the last quarter. AMF Tjanstepension AB raised its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares in the last quarter. Czech National Bank raised its stake in Eli Lilly and Company by 5.6% during the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock worth $142,368,000 after acquiring an additional 8,566 shares in the last quarter. GAMMA Investing LLC raised its stake in Eli Lilly and Company by 24.3% during the 3rd quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after acquiring an additional 2,833 shares in the last quarter. Finally, WealthBridge Capital Management LLC raised its stake in Eli Lilly and Company by 55.6% during the 3rd quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after acquiring an additional 1,876 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the 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 of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $811.47 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $770.35 billion, a P/E ratio of 87.73, a P/E/G ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $682.53 and a fifty-two week high of $972.53. The firm’s 50 day moving average is $783.56 and its two-hundred day moving average is $843.75.

Eli Lilly and Company declared that its board has approved a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 represents a $6.00 dividend on an annualized basis and a yield of 0.74%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Analyst Ratings Changes

Several brokerages have issued reports on LLY. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Barclays lowered their target price on shares of 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. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Five research 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 an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.