Eli Lilly and Company (NYSE:LLY) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 52.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,980 shares of the company’s stock after selling 4,364 shares during the quarter. Edgestream Partners L.P.’s holdings in Eli Lilly and Company were worth $3,073,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BBR Partners LLC grew its position in Eli Lilly and Company by 15.7% in the fourth quarter. BBR Partners LLC now owns 1,846 shares of the company’s stock valued at $1,425,000 after acquiring an additional 250 shares in the last quarter. Destination Wealth Management boosted its stake in shares of Eli Lilly and Company by 0.9% in the fourth quarter. Destination Wealth Management now owns 27,580 shares of the company’s stock valued at $21,292,000 after purchasing an additional 254 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Eli Lilly and Company by 17.1% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,111 shares of the company’s stock valued at $3,946,000 after purchasing an additional 745 shares in the last quarter. Barden Capital Management Inc. increased its stake in Eli Lilly and Company by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 3,117 shares of the company’s stock worth $2,406,000 after buying an additional 47 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in Eli Lilly and Company by 21.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 19,808 shares of the company’s stock worth $15,292,000 after buying an additional 3,450 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial increased 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. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $868.59 on Friday. The company has a market cap of $823.57 billion, a P/E ratio of 74.17, a PEG ratio of 1.40 and a beta of 0.34. The business has a 50 day moving average of $826.63 and a two-hundred day moving average of $847.97. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. 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 (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Eli Lilly and Company announced that its board has authorized a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is 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.