Gateway Investment Advisers LLC Has $121.66 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Gateway Investment Advisers LLC lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,588 shares of the company’s stock after selling 4,181 shares during the quarter. Eli Lilly and Company comprises about 1.4% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 12th biggest position. Gateway Investment Advisers LLC’s holdings in Eli Lilly and Company were worth $121,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Eli Lilly and Company by 3.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 14,918 shares of the company’s stock valued at $11,517,000 after acquiring an additional 451 shares during the last quarter. Heritage Family Offices LLP grew its holdings in Eli Lilly and Company by 1.9% during the fourth quarter. Heritage Family Offices LLP now owns 1,964 shares of the company’s stock valued at $1,517,000 after purchasing an additional 37 shares during the last quarter. Financial Enhancement Group LLC raised its position in shares of Eli Lilly and Company by 14.3% in the fourth quarter. Financial Enhancement Group LLC now owns 2,128 shares of the company’s stock valued at $1,697,000 after purchasing an additional 266 shares during the period. Smith Thornton Advisors LLC lifted its stake in shares of Eli Lilly and Company by 73.0% in the fourth quarter. Smith Thornton Advisors LLC now owns 794 shares of the company’s stock worth $613,000 after buying an additional 335 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 108.6% during the 4th quarter. Carolina Wealth Advisors LLC now owns 290 shares of the company’s stock worth $224,000 after buying an additional 151 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 4.1 %

LLY stock opened at $726.24 on Friday. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business’s 50 day moving average is $783.25 and its 200-day moving average is $856.02. The firm has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the firm earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction 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 $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 is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. 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 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.