Eli Lilly and Company (NYSE:LLY) Shares Purchased by Klingman & Associates LLC

Klingman & Associates LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 4.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,725 shares of the company’s stock after acquiring an additional 66 shares during the quarter. Klingman & Associates LLC’s holdings in Eli Lilly and Company were worth $1,332,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its holdings in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares in the last quarter. M&T Bank Corp raised its holdings in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Kentucky Trust Co acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $834,000. Cooper Financial Group raised its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares in the last quarter. Finally, Everence Capital Management Inc. raised its holdings in Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company cut 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 report on Tuesday, January 28th. Truist Financial raised their price objective on shares of 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. Finally, Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $857.38 on Wednesday. The firm’s fifty day moving average price is $796.41 and its 200 day moving average price is $845.73. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market cap of $813.93 billion, a price-to-earnings ratio of 73.22, a price-to-earnings-growth ratio of 1.35 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 for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.70%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company declared that its board has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and 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.