Nordea Investment Management AB Purchases 138,835 Shares of Eli Lilly and Company (NYSE:LLY)

Nordea Investment Management AB grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 13.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,154,350 shares of the company’s stock after buying an additional 138,835 shares during the period. Eli Lilly and Company makes up about 0.9% of Nordea Investment Management AB’s holdings, making the stock its 16th biggest holding. Nordea Investment Management AB’s holdings in Eli Lilly and Company were worth $887,014,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at about $30,000. Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. West Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $58,000. Finally, Hara Capital LLC purchased a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

LLY opened at $781.98 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 stock has a market capitalization of $742.35 billion, a P/E ratio of 84.54, a PEG ratio of 2.99 and a beta of 0.41. The stock has a 50-day moving average price of $793.82 and a 200-day moving average price of $863.35. Eli Lilly and Company has a 12-month low of $609.59 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Equities analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its Board of Directors has approved a stock 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

LLY has been the subject of a number of analyst reports. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Insider Activity

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

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.