First Citizens Bank & Trust Co. Has $10.42 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

First Citizens Bank & Trust Co. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,494 shares of the company’s stock after acquiring an additional 337 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $10,417,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LLY. Driehaus Capital Management LLC lifted its position in Eli Lilly and Company by 94.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock valued at $1,480,000 after acquiring an additional 793 shares in the last quarter. Algert Global LLC lifted its position in 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 acquiring an additional 110 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $2,114,000. Wallace Advisory Group LLC bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $321,000. Finally, Regal Investment Advisors LLC lifted its position in Eli Lilly and Company by 0.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,323 shares of the company’s stock worth $4,819,000 after buying an additional 16 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.9 %

Shares of LLY opened at $808.16 on Tuesday. Eli Lilly and Company has a 52 week low of $637.00 and a 52 week high of $972.53. The firm has a market cap of $767.20 billion, a P/E ratio of 87.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The firm’s 50-day simple moving average is $776.69 and its 200 day simple moving average is $848.19. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last announced its 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 for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analysts Set New Price Targets

Several brokerages have commented on LLY. 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 target on the stock. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Truist Financial boosted their price target 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 report on Thursday, October 10th. Barclays dropped 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. Finally, Citigroup upped their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,002.22.

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.