Teachers Retirement System of The State of Kentucky Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Teachers Retirement System of The State of Kentucky lowered its position in Eli Lilly and Company (NYSE:LLY) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,512 shares of the company’s stock after selling 7,175 shares during the quarter. Eli Lilly and Company comprises approximately 0.8% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 13th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Eli Lilly and Company were worth $87,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LLY. Lantz Financial LLC increased its stake in Eli Lilly and Company by 1.3% in the second quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after acquiring an additional 16 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 18.5% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,887 shares of the company’s stock worth $1,708,000 after acquiring an additional 294 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Eli Lilly and Company by 96.2% in the second quarter. Baader Bank Aktiengesellschaft now owns 7,988 shares of the company’s stock worth $7,100,000 after purchasing an additional 3,917 shares during the last quarter. Hengehold Capital Management LLC grew its position in Eli Lilly and Company by 13.4% during the 2nd quarter. Hengehold Capital Management LLC now owns 524 shares of the company’s stock worth $475,000 after acquiring an additional 62 shares during the last quarter. Finally, Petredis Investment Advisors LLC lifted its position in Eli Lilly and Company by 0.4% in the second quarter. Petredis Investment Advisors LLC now owns 11,413 shares of the company’s stock valued at $10,333,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LLY. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $800.85 on Wednesday. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The firm has a 50 day moving average of $841.04 and a 200 day moving average of $871.97. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $760.26 billion, a price-to-earnings ratio of 86.58, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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

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.