Independence Bank of Kentucky Purchases 769 Shares of Eli Lilly and Company (NYSE:LLY)

Independence Bank of Kentucky grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,680 shares of the company’s stock after purchasing an additional 769 shares during the quarter. Eli Lilly and Company comprises approximately 0.9% of Independence Bank of Kentucky’s portfolio, making the stock its 21st biggest holding. Independence Bank of Kentucky’s holdings in Eli Lilly and Company were worth $5,929,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LLY. Algert Global LLC grew its stake in Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares in the last quarter. AMF Tjanstepension AB grew its position in shares of Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Czech National Bank raised its stake in shares of Eli Lilly and Company by 5.6% during the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after purchasing an additional 8,566 shares during the period. GAMMA Investing LLC lifted its holdings in Eli Lilly and Company by 24.3% during the 3rd quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after purchasing an additional 2,833 shares in the last quarter. Finally, WealthBridge Capital Management LLC boosted its stake in Eli Lilly and Company by 55.6% in the 3rd quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after purchasing an additional 1,876 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several analyst reports. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.22.

Eli Lilly and Company Stock Down 1.4 %

Shares of NYSE:LLY opened at $811.61 on Monday. The stock has a market capitalization of $770.48 billion, a P/E ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The stock’s 50-day moving average price is $783.56 and its 200-day moving average price is $844.18. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company declared that its board has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

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.