Charles Schwab Investment Management Inc. Purchases 199,864 Shares of Eli Lilly and Company (NYSE:LLY)

Charles Schwab Investment Management Inc. grew its position in Eli Lilly and Company (NYSE:LLY) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,035,084 shares of the company’s stock after purchasing an additional 199,864 shares during the quarter. Eli Lilly and Company makes up about 0.7% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 25th largest position. Charles Schwab Investment Management Inc. owned 0.53% of Eli Lilly and Company worth $3,887,085,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LLY. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its stake in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $930.22 on Tuesday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The firm has a 50-day moving average of $817.56 and a 200-day moving average of $848.11. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market cap of $882.01 billion, a P/E ratio of 79.44, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share repurchase 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 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. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company dropped their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

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.