Tranquility Partners LLC Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Tranquility Partners LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 924 shares of the company’s stock after selling 28 shares during the quarter. Tranquility Partners LLC’s holdings in Eli Lilly and Company were worth $728,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Values Added Financial LLC lifted its position in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after acquiring an additional 17 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Eli Lilly and Company by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock valued at $776,000 after acquiring an additional 29 shares in the last quarter. PFG Advisors boosted its stake in shares of Eli Lilly and Company by 1.6% in the third quarter. PFG Advisors now owns 3,417 shares of the company’s stock worth $3,027,000 after acquiring an additional 53 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Eli Lilly and Company by 4.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 305 shares of the company’s stock worth $270,000 after purchasing an additional 14 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $872.81 on Friday. The business’s 50 day moving average price is $793.14 and its 200-day moving average price is $844.15. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a market cap of $828.58 billion, a P/E ratio of 74.54, a P/E/G ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Sell-side analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 44.41%.

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.