Iowa State Bank Acquires 120 Shares of Eli Lilly and Company (NYSE:LLY)

Iowa State Bank grew its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,732 shares of the company’s stock after purchasing an additional 120 shares during the period. Iowa State Bank’s holdings in Eli Lilly and Company were worth $4,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC increased its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock worth $1,119,000 after purchasing an additional 16 shares in the last quarter. Norden Group LLC raised its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Norden Group LLC now owns 2,080 shares of the company’s stock valued at $1,883,000 after buying an additional 27 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in Eli Lilly and Company by 68,180.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 415,147 shares of the company’s stock worth $3,759,000 after buying an additional 414,539 shares during the period. Chris Bulman Inc bought a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $246,000. Finally, Asset Dedication LLC increased its position in Eli Lilly and Company by 4.2% in the 2nd quarter. Asset Dedication LLC now owns 8,693 shares of the company’s stock valued at $7,870,000 after acquiring an additional 351 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $14.59 during trading hours on Monday, reaching $767.39. 1,675,663 shares of the company were exchanged, compared to its average volume of 1,759,334. The stock has a market capitalization of $728.50 billion, a P/E ratio of 82.96, a P/E/G ratio of 2.99 and a beta of 0.41. 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 1 year low of $609.59 and a 1 year high of $972.53. The business’s 50 day simple moving average is $793.82 and its 200-day simple moving average is $863.35.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company posted $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 64.86%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company 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 value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.