Mutual of America Capital Management LLC Sells 2,943 Shares of Eli Lilly and Company (NYSE:LLY)

Mutual of America Capital Management LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 96,849 shares of the company’s stock after selling 2,943 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Mutual of America Capital Management LLC’s holdings, making the stock its 13th largest holding. Mutual of America Capital Management LLC’s holdings in Eli Lilly and Company were worth $74,767,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Garner Asset Management Corp grew its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Key Financial Inc grew its holdings in shares of Eli Lilly and Company by 1.5% in the third quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after purchasing an additional 13 shares during the period. Shoker Investment Counsel Inc. increased its position in Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares during the last quarter. Vestia Personal Wealth Advisors raised its stake in Eli Lilly and Company by 1.7% during the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after purchasing an additional 13 shares during the period. Finally, Altrius Capital Management Inc grew its position in Eli Lilly and Company by 1.0% in the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Truist Financial increased their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Trading Up 1.7 %

NYSE:LLY opened at $920.44 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 50 day moving average price is $814.88 and its 200 day moving average price is $849.10. The company has a market capitalization of $872.73 billion, a PE ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.