Eli Lilly and Company (NYSE:LLY) Shares Acquired by Lansing Street Advisors

Lansing Street Advisors grew its stake in Eli Lilly and Company (NYSE:LLY) by 102.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,312 shares of the company’s stock after purchasing an additional 664 shares during the period. Lansing Street Advisors’ holdings in Eli Lilly and Company were worth $1,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Howard Capital Management Inc. increased its holdings in shares of Eli Lilly and Company by 5.5% in the fourth quarter. Howard Capital Management Inc. now owns 7,530 shares of the company’s stock valued at $5,813,000 after purchasing an additional 392 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Eli Lilly and Company by 23.8% in the fourth quarter. Wealthspire Advisors LLC now owns 8,709 shares of the company’s stock valued at $6,724,000 after purchasing an additional 1,672 shares during the period. Cohen Capital Management Inc. grew its holdings in Eli Lilly and Company by 8.7% during the fourth quarter. Cohen Capital Management Inc. now owns 338 shares of the company’s stock worth $261,000 after acquiring an additional 27 shares during the period. Marshall Investment Management LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth $2,516,000. Finally, LWM Advisory Services LLC grew its holdings in Eli Lilly and Company by 2.4% during the fourth quarter. LWM Advisory Services LLC now owns 1,844 shares of the company’s stock worth $1,424,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE:LLY opened at $874.12 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock’s fifty day simple moving average is $801.33 and its 200-day simple moving average is $847.13. The company has a market capitalization of $828.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.40 and a beta of 0.42.

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 85.24%. As a group, equities research analysts forecast 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 authorized a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. 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 dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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.