AlphaCentric Advisors LLC Makes New $4.74 Million Investment in Eli Lilly and Company (NYSE:LLY)

AlphaCentric Advisors LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,140 shares of the company’s stock, valued at approximately $4,740,000. Eli Lilly and Company comprises 4.7% of AlphaCentric Advisors LLC’s investment portfolio, making the stock its biggest position.

Other hedge funds have also modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Eli Lilly and Company during the third quarter valued at approximately $58,000. Finally, Compass Financial Services Inc acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $50,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 3.1 %

NYSE:LLY opened at $844.82 on Tuesday. The business’s 50-day moving average is $794.44 and its two-hundred day moving average is $845.27. The firm has a market capitalization of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month 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.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 net margin of 23.51% and a return on equity of 86.26%. Research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs 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 dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 44.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Finally, Truist Financial increased 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. Four 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 has an average rating of “Moderate Buy” and an average price target of $997.50.

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.