Indiana Trust & Investment Management Co Buys 912 Shares of Eli Lilly and Company (NYSE:LLY)

Indiana Trust & Investment Management Co raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,737 shares of the company’s stock after buying an additional 912 shares during the period. Eli Lilly and Company comprises about 3.3% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 4th biggest holding. 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 & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.9 %

Shares of Eli Lilly and Company stock opened at $872.98 on Thursday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The stock has a market capitalization of $828.74 billion, a P/E ratio of 74.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a 50-day simple moving average of $792.27 and a 200 day simple moving average of $843.94. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Research analysts expect that Eli Lilly and Company will post 23.33 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 firm 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 $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 a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. 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 investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $997.50.

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.