Eli Lilly and Company (NYSE:LLY) Holdings Trimmed by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,162 shares of the company’s stock after selling 27 shares during the quarter. Convergence Investment Partners LLC’s holdings in Eli Lilly and Company were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. International Assets Investment Management LLC grew its holdings in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after acquiring an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Eli Lilly and Company by 126,531.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after purchasing an additional 678,209 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after purchasing an additional 584,866 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.1 %

LLY stock opened at $866.69 on Thursday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. 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 business’s 50 day moving average is $797.80 and its 200-day moving average is $845.87. The firm has a market cap of $822.77 billion, a P/E ratio of 74.01, a P/E/G ratio of 1.35 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 86.26% and a net margin of 23.51%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company 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 dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on LLY shares. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial boosted their target price 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. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company 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.