Eli Lilly and Company (NYSE:LLY) Stake Increased by Zullo Investment Group Inc.

Zullo Investment Group Inc. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,513 shares of the company’s stock after purchasing an additional 37 shares during the period. Zullo Investment Group Inc.’s holdings in Eli Lilly and Company were worth $1,168,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its holdings in shares of 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 purchasing an additional 724 shares in the last quarter. Centerpoint Advisory Group acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $514,000. M&T Bank Corp increased its stake in shares of 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 worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $834,000. Finally, Cooper Financial Group increased its stake in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after acquiring an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.8 %

Shares of NYSE:LLY opened at $873.77 on Friday. The company has a market cap of $829.49 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.37 and a beta of 0.42. The stock’s 50-day moving average is $799.63 and its 200-day moving average is $846.07. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup dropped their price target 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 research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. Wells Fargo & Company dropped their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

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.