State of Alaska Department of Revenue Has $81.66 Million Position in Eli Lilly and Company (NYSE:LLY)

State of Alaska Department of Revenue trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 4.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 104,974 shares of the company’s stock after selling 4,400 shares during the quarter. Eli Lilly and Company comprises about 0.9% of State of Alaska Department of Revenue’s portfolio, making the stock its 10th biggest holding. State of Alaska Department of Revenue’s holdings in Eli Lilly and Company were worth $81,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LLY. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $5,992,890,000. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Sapient Capital LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at $682,139,000. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Comerica Bank bought a new position in Eli Lilly and Company during the 3rd quarter valued at $345,781,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

LLY opened at $898.10 on Thursday. The stock has a fifty day moving average of $821.29 and a 200-day moving average of $745.62. The firm has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $918.50. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. Equities analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Citigroup increased their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 858,742 shares of company stock worth $735,573,781. Corporate insiders own 0.13% of the company’s stock.

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.