Manchester Capital Management LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Manchester Capital Management LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 17.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,516 shares of the company’s stock after buying an additional 812 shares during the quarter. Manchester Capital Management LLC’s holdings in Eli Lilly and Company were worth $4,258,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LLY. AMF Tjanstepension AB grew its holdings in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares in the last quarter. Values Added Financial LLC grew its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. RFG Advisory LLC grew its holdings in Eli Lilly and Company by 7.6% during the 3rd quarter. RFG Advisory LLC now owns 9,006 shares of the company’s stock valued at $7,979,000 after buying an additional 635 shares in the last quarter. Madrona Financial Services LLC grew its holdings in Eli Lilly and Company by 12.4% during the 3rd quarter. Madrona Financial Services LLC now owns 282 shares of the company’s stock valued at $250,000 after buying an additional 31 shares in the last quarter. Finally, CHB Investment Group LLC purchased a new position in Eli Lilly and Company during the 3rd quarter valued at approximately $2,764,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup lowered their price objective on 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. Four 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 currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $844.82 on Friday. The stock has a market cap of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The business has a 50-day simple moving average of $794.44 and a 200-day simple moving average of $844.60. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts expect that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

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

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.