Kentucky Retirement Systems Insurance Trust Fund Trims Position in Eli Lilly and Company $LLY

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,781 shares of the company’s stock after selling 1,509 shares during the period. Eli Lilly and Company accounts for 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 12th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Eli Lilly and Company were worth $16,979,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LLY. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 1.5% during the second quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after acquiring an additional 1,183,038 shares during the period. Wellington Management Group LLP boosted its stake in shares of Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock worth $10,495,261,000 after acquiring an additional 81,587 shares during the period. Laurel Wealth Advisors LLC grew its position in shares of Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after purchasing an additional 11,537,661 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the second quarter worth about $8,827,714,000. Finally, Jennison Associates LLC raised its stake in Eli Lilly and Company by 4.3% during the 2nd quarter. Jennison Associates LLC now owns 5,447,636 shares of the company’s stock valued at $4,246,596,000 after purchasing an additional 226,620 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LLY shares. Truist Financial upped their price target on Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Eli Lilly and Company in a report on Tuesday, December 9th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. UBS Group lifted their price target on shares of Eli Lilly and Company from $895.00 to $1,080.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Monday, December 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,121.90.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $1,027.68 on Monday. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $1,111.99. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71. The firm’s fifty day moving average is $939.47 and its 200 day moving average is $820.35. The company has a market cap of $971.55 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.14 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The business’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date is Friday, February 13th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Eli Lilly and 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.