InTrack Investment Management Inc Increases Stake in Eli Lilly and Company

InTrack Investment Management Inc has increased its investment in Eli Lilly and Company (NYSE:LLY) shares by 28.8% during the fourth quarter, according to their most recent filing with the SEC. Following this purchase, the institutional investor now holds 4,516 shares of Eli Lilly, which translates to an additional 1,011 shares acquired within that quarter. Eli Lilly represents about 2.3% of InTrack Investment Management Inc's entire portfolio, making it their seventh largest investment. As per the latest filing, InTrack's shares of Eli Lilly and Company are valued at approximately $3,364,000.

Other hedge funds have also been active in the stock market, buying and selling shares of Eli Lilly company. For instance, International Assets Investment Management LLC significantly increased its stake by an astounding 87,091.7% during the prior quarter. Now, this firm owns around 12,463,182 shares valued at $11,041,631,000 after acquiring an additional 12,448,888 shares. Similarly, Pathway Financial Advisers LLC raised its holding in Eli Lilly by 92,759.9%, now owning 1,022,388 shares worth $905,774,000 after buying an additional 1,021,287 shares. Integrated Investment Consultants LLC also grew its investment in Eli Lilly by 37,140.7%, now holding 694,167 shares valued at $614,990,000. Other financial entities including Comerica Bank and Assenagon Asset Management S.A. have also reported increases in their stakes in Eli Lilly, with over 82.53% of the stock currently held by institutional investors.

Eli Lilly and Company Stock Performance

On the market, Eli Lilly's stock is experiencing a downturn, with shares opening at $726.24. The stock has recorded a 52-week low of $612.70 and a high of $972.53. Financial indicators show a debt-to-equity ratio of 2.03, a quick ratio of 0.97, and a current ratio of 1.27. The company has a total market capitalization of $689.43 billion, with a price-to-earnings ratio of 78.51, a PEG ratio of 1.66, and a beta of 0.41. The average moving prices over the last 50 and 200 days stand at $781.14 and $854.71, respectively.

Recent Financial Results and Announcements

Eli Lilly last announced its quarterly earnings on October 30th, revealing earnings per share (EPS) of $1.18, which fell short of analyst expectations of $1.52 by $0.34. The company's revenue during this period was reported at $11.44 billion, below the expected $12.09 billion, but showing a year-over-year increase of 20.4%. The net margin stood at 20.48%, and the return on equity was a notable 71.08%. Analysts predict an EPS of 13.14 for the current year. Additionally, Eli Lilly's Board of Directors has approved a share buyback plan, authorizing the repurchase of up to $15.00 billion in shares, indicative of the board's confidence in the company's valuation.

Dividend Increase Announcement

In recent developments, Eli Lilly announced an increase in its quarterly dividend, which will be paid on March 10th. Current stockholders recorded on February 14th will receive a dividend of $1.50 per share, raising the annualized dividend to $6.00, which gives a yield of 0.83%. This update represents an increase from the previous quarterly dividend of $1.30, with the company’s dividend payout ratio currently at 56.22%.

Insider Activity

In related news, Donald A. Zakrowski, the Chief Accounting Officer, sold 900 shares of Eli Lilly’s stock on November 8th for an average price of $803.38, totaling $723,042. Following this transaction, he holds 5,480 shares valued at $4,402,522.40. This represents a decrease of 14.11% in his position. Currently, insiders hold approximately 0.13% of the stock.

Analyst Ratings Overview

Analysts have been actively rating Eli Lilly's stock with mixed reviews. Barclays has adjusted its target price from $1,025.00 to $975.00 while maintaining an