E&G Advisors LP Has $1.79 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

E&G Advisors LP reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 14.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,331 shares of the company’s stock after selling 400 shares during the period. E&G Advisors LP’s holdings in Eli Lilly and Company were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC lifted its holdings in shares of Eli Lilly and Company by 27.9% in the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares during the last quarter. AMF Tjanstepension AB increased its position in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Czech National Bank boosted its position in Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after buying an additional 8,566 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Eli Lilly and Company by 11.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 1,931 shares of the company’s stock worth $1,711,000 after buying an additional 196 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Eli Lilly and Company by 9.4% during the third quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $867,000 after buying an additional 84 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

Shares of NYSE LLY opened at $827.41 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $785.48 billion, a PE ratio of 89.45, a P/E/G ratio of 1.72 and a beta of 0.42. The company’s fifty day simple moving average is $784.69 and its 200 day simple moving average is $843.49. Eli Lilly and Company has a 12-month low of $682.53 and a 12-month high of $972.53.

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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan 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 plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company reduced their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now 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 document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Company Profile

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.