Kentucky Retirement Systems Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Kentucky Retirement Systems lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,209 shares of the company’s stock after selling 747 shares during the period. Eli Lilly and Company makes up approximately 1.2% of Kentucky Retirement Systems’ holdings, making the stock its 12th biggest position. Kentucky Retirement Systems’ holdings in Eli Lilly and Company were worth $41,849,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LLY. Suncoast Equity Management lifted its stake in shares of Eli Lilly and Company by 60.2% in the 4th quarter. Suncoast Equity Management now owns 41,779 shares of the company’s stock worth $32,253,000 after purchasing an additional 15,698 shares during the period. Prakash Investment Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $1,013,000. Mattern Capital Management LLC grew its position in shares of Eli Lilly and Company by 183.2% during the 4th quarter. Mattern Capital Management LLC now owns 807 shares of the company’s stock valued at $623,000 after acquiring an additional 522 shares during the period. Forte Capital LLC ADV increased its stake in shares of Eli Lilly and Company by 36.7% in the 4th quarter. Forte Capital LLC ADV now owns 2,217 shares of the company’s stock worth $1,711,000 after purchasing an additional 595 shares in the last quarter. Finally, ING Groep NV raised its holdings in Eli Lilly and Company by 2,395.0% in the 4th quarter. ING Groep NV now owns 107,336 shares of the company’s stock worth $82,863,000 after purchasing an additional 103,034 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.1 %

LLY opened at $874.12 on Friday. The stock has a 50-day moving average of $801.33 and a 200 day moving average of $846.75. 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 has a 12 month low of $711.40 and a 12 month high of $972.53. The firm has a market cap of $829.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,007.94.

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.