Independence Bank of Kentucky Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Independence Bank of Kentucky increased its holdings in Eli Lilly and Company (NYSE:LLY) by 8.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,317 shares of the company’s stock after acquiring an additional 637 shares during the quarter. Eli Lilly and Company makes up about 1.1% of Independence Bank of Kentucky’s holdings, making the stock its 16th biggest position. Independence Bank of Kentucky’s holdings in Eli Lilly and Company were worth $6,869,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased its position in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

LLY stock opened at $770.00 on Friday. The stock’s 50 day moving average price is $770.87 and its 200 day moving average price is $799.95. The firm has a market cap of $729.76 billion, a P/E ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter last year, the company posted $2.58 earnings per share. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LLY shares. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

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.