Eli Lilly and Company (NYSE:LLY) Shares Acquired by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 306 shares of the company’s stock after acquiring an additional 62 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Eli Lilly and Company were worth $237,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. boosted its stake in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LLY. Deutsche Bank Aktiengesellschaft decreased their price target on 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. Barclays decreased their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $902.47 on Wednesday. The company has a market cap of $855.69 billion, a P/E ratio of 77.07, a PEG ratio of 1.40 and a beta of 0.42. The business’s 50-day simple moving average is $805.87 and its 200 day simple moving average is $847.99. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. On average, sell-side 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 initiated a share buyback plan 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 plans are often a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced 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 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. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.