Verity Asset Management Inc. Sells 686 Shares of Eli Lilly and Company (NYSE:LLY)

Verity Asset Management Inc. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692 shares of the company’s stock after selling 686 shares during the quarter. Verity Asset Management Inc.’s holdings in Eli Lilly and Company were worth $534,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LLY. AMF Tjanstepension AB lifted its position in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares during the period. Axiom Advisory LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth approximately $345,000. Country Trust Bank lifted its position in shares of Eli Lilly and Company by 1.6% in the 3rd quarter. Country Trust Bank now owns 95,627 shares of the company’s stock worth $84,720,000 after acquiring an additional 1,500 shares during the period. Artemis Investment Management LLP lifted its position in shares of Eli Lilly and Company by 29.9% in the 3rd quarter. Artemis Investment Management LLP now owns 55,474 shares of the company’s stock worth $49,147,000 after acquiring an additional 12,769 shares during the period. Finally, Reliant Investment Management LLC lifted its position in shares of Eli Lilly and Company by 4.4% in the 3rd quarter. Reliant Investment Management LLC now owns 1,387 shares of the company’s stock worth $1,229,000 after acquiring an additional 59 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

NYSE LLY opened at $843.82 on Thursday. The stock has a fifty day moving average of $785.46 and a 200-day moving average of $843.28. The stock has a market capitalization of $801.05 billion, a P/E ratio of 91.22, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $691.10 and a 52 week high of $972.53. 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 announced that its Board of Directors has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial raised their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Barclays cut their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.