Eli Lilly and Company (NYSE:LLY) Stake Cut by Fourpath Capital Management LLC

Fourpath Capital Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 13.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,905 shares of the company’s stock after selling 2,479 shares during the quarter. Eli Lilly and Company makes up approximately 2.3% of Fourpath Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Fourpath Capital Management LLC’s holdings in Eli Lilly and Company were worth $12,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Algert Global LLC grew its stake in shares of Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares during the last quarter. AMF Tjanstepension AB grew its position in 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 buying an additional 176,552 shares during the last quarter. Czech National Bank increased its stake in Eli Lilly and Company by 5.6% in the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after buying an additional 8,566 shares during the period. Azzad Asset Management Inc. ADV raised its position in Eli Lilly and Company by 11.3% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 1,931 shares of the company’s stock worth $1,711,000 after buying an additional 196 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Eli Lilly and Company by 9.4% in the 3rd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $867,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 2.1 %

Shares of LLY stock opened at $827.41 on Wednesday. Eli Lilly and Company has a twelve month low of $682.53 and a twelve month high of $972.53. The company has a market capitalization of $785.48 billion, a price-to-earnings ratio of 89.45, a PEG ratio of 1.72 and a beta of 0.42. The firm has a 50-day moving average price of $784.69 and a 200 day moving average price of $843.49. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.73%. Eli Lilly and Company’s payout ratio is 56.22%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the 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 transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial upped their price objective 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. Citigroup decreased 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 research report on Tuesday, January 28th. Finally, Sanford C. Bernstein assumed 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 price target for the company. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.