Howard Bailey Securities LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Howard Bailey Securities LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508 shares of the company’s stock after selling 72 shares during the period. Howard Bailey Securities LLC’s holdings in Eli Lilly and Company were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its holdings in shares of Eli Lilly and Company by 52.0% during the fourth quarter. TFC Financial Management Inc. now owns 532 shares of the company’s stock worth $411,000 after buying an additional 182 shares in the last quarter. Park Capital Management LLC WI acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $329,000. Raab & Moskowitz Asset Management LLC lifted its stake in Eli Lilly and Company by 27.9% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 1,936 shares of the company’s stock worth $1,495,000 after purchasing an additional 422 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $400,000. Finally, Warren Street Wealth Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 5.5% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 1,166 shares of the company’s stock worth $900,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LLY. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. 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 research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price 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. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Price Performance

LLY opened at $872.81 on Friday. The stock’s 50-day moving average price is $793.14 and its 200 day moving average price is $844.15. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market cap of $828.58 billion, a price-to-earnings ratio of 74.54, a PEG ratio of 1.87 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 net margin of 23.51% and a return on equity of 86.26%. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued 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 yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 44.41%.

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.