Home Federal Bank of Tennessee Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Home Federal Bank of Tennessee cut its stake in Eli Lilly and Company (NYSE:LLY) by 8.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,876 shares of the company’s stock after selling 1,141 shares during the period. Eli Lilly and Company makes up approximately 2.7% of Home Federal Bank of Tennessee’s holdings, making the stock its 3rd largest holding. Home Federal Bank of Tennessee’s holdings in Eli Lilly and Company were worth $9,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares during the period. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after purchasing an additional 169,391 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Eli Lilly and Company by 0.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after purchasing an additional 12,044 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays dropped their price target 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. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

LLY stock opened at $827.41 on Wednesday. The company has a 50 day moving average price of $784.69 and a 200 day moving average price of $843.49. Eli Lilly and Company has a fifty-two week low of $682.53 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $785.48 billion, a PE ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.