M&G Investment Management Ltd. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 29.2% during the first quarter, Holdings Channel.com reports. The fund owned 55,451 shares of the company’s stock after selling 22,827 shares during the period. M&G Investment Management Ltd.’s holdings in Eli Lilly and were worth $10,369,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of LLY. Ironwood Wealth Management LLC. lifted its stake in shares of Eli Lilly and by 1,646.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,576 shares of the company’s stock worth $773,000 after acquiring an additional 4,314 shares during the period. Baker Tilly Financial LLC bought a new stake in Eli Lilly and in the fourth quarter worth approximately $784,000. DB Wealth Management Group LLC bought a new stake in Eli Lilly and in the fourth quarter worth approximately $34,000. Prio Wealth Limited Partnership increased its holdings in Eli Lilly and by 3.8% in the fourth quarter. Prio Wealth Limited Partnership now owns 3,665 shares of the company’s stock worth $619,000 after purchasing an additional 134 shares in the last quarter. Finally, Camden Capital LLC bought a new stake in Eli Lilly and in the fourth quarter worth approximately $343,000. 81.63% of the stock is currently owned by institutional investors.
Shares of NYSE:LLY opened at $233.54 on Friday. The stock has a market capitalization of $223.97 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.24. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.10 and a current ratio of 1.42. Eli Lilly and Company has a 12-month low of $129.21 and a 12-month high of $235.85. The firm’s 50 day moving average is $194.18.
Eli Lilly and declared that its board has authorized a stock buyback program on Monday, May 3rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 14th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.46%. Eli Lilly and’s payout ratio is 42.88%.
In other Eli Lilly and news, Director Jackson P. Tai acquired 1,366 shares of the business’s stock in a transaction on Friday, April 30th. The shares were acquired at an average price of $182.84 per share, with a total value of $249,759.44. Following the completion of the transaction, the director now owns 60,649 shares in the company, valued at $11,089,063.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $181.38, for a total value of $544,140.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,987 shares in the company, valued at approximately $1,085,922.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,260 shares of company stock worth $22,060,744. 0.13% of the stock is owned by insiders.
A number of equities research analysts have weighed in on LLY shares. Morgan Stanley lowered their target price on Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 28th. Truist Financial reiterated a “buy” rating and issued a $225.00 target price on shares of Eli Lilly and in a report on Tuesday. Truist Securities reiterated a “buy” rating and issued a $225.00 target price on shares of Eli Lilly and in a report on Tuesday. Barclays lowered their target price on Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating for the company in a report on Wednesday, April 28th. Finally, Cowen boosted their price objective on Eli Lilly and from $195.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $202.62.
About Eli Lilly and
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceuticals worldwide. It offers Baqsimi for severe hypoglycemia; 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, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.
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