Indiana Trust & Investment Management Co Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Indiana Trust & Investment Management Co lifted its stake in Eli Lilly and Company (NYSE:LLY) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,737 shares of the company’s stock after purchasing an additional 912 shares during the period. Eli Lilly and Company accounts for 3.3% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 4th largest position. Indiana Trust & Investment Management Co’s holdings in Eli Lilly and Company were worth $9,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of LLY. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after buying an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC boosted its stake in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after acquiring an additional 678,209 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after acquiring an additional 584,866 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LLY shares. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays reduced their target price on 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. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $872.98 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $828.74 billion, a P/E ratio of 74.55, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The business has a 50-day moving average of $792.27 and a 200-day moving average of $843.94.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 44.41%.

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