Caprock Group LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Caprock Group LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 70,425 shares of the company’s stock after buying an additional 2,666 shares during the period. Eli Lilly and Company accounts for 1.8% of Caprock Group LLC’s portfolio, making the stock its 7th largest position. Caprock Group LLC’s holdings in Eli Lilly and Company were worth $54,369,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its position in Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares in the last quarter. M&T Bank Corp lifted its position in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Cooper Financial Group boosted its stake in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares in the last quarter. Everence Capital Management Inc. grew its position in Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after acquiring an additional 690 shares during the last quarter. Finally, Jacobs & Co. CA raised its stake in shares of Eli Lilly and Company by 35.2% during the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after acquiring an additional 7,646 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

LLY opened at $811.61 on Monday. 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 company has a market cap of $770.48 billion, a price-to-earnings ratio of 87.74, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The stock has a fifty day simple moving average of $783.56 and a two-hundred day simple moving average of $844.18. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 dividend payout ratio (DPR) is 56.22%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays decreased 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 note on Thursday, October 31st. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $997.22.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

About Eli Lilly and Company

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.