Prakash Investment Advisors LLC Invests $1.01 Million in Eli Lilly and Company (NYSE:LLY)

Prakash Investment Advisors LLC purchased a new position 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 1,312 shares of the company’s stock, valued at approximately $1,013,000. Eli Lilly and Company accounts for 1.0% of Prakash Investment Advisors LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mattern Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 183.2% in the fourth quarter. Mattern Capital Management LLC now owns 807 shares of the company’s stock worth $623,000 after buying an additional 522 shares during the period. Forte Capital LLC ADV increased its holdings in Eli Lilly and Company by 36.7% during the 4th quarter. Forte Capital LLC ADV now owns 2,217 shares of the company’s stock worth $1,711,000 after purchasing an additional 595 shares during the period. ING Groep NV increased its holdings in Eli Lilly and Company by 2,395.0% during the 4th quarter. ING Groep NV now owns 107,336 shares of the company’s stock worth $82,863,000 after purchasing an additional 103,034 shares during the period. O Brien Greene & Co. Inc increased its holdings in Eli Lilly and Company by 8.7% during the 4th quarter. O Brien Greene & Co. Inc now owns 983 shares of the company’s stock worth $759,000 after purchasing an additional 79 shares during the period. Finally, Dash Acquisitions Inc. increased its holdings in Eli Lilly and Company by 4.3% during the 4th quarter. Dash Acquisitions Inc. now owns 384 shares of the company’s stock worth $309,000 after purchasing an additional 16 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.8 %

Eli Lilly and Company stock opened at $873.77 on Friday. 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 stock has a market capitalization of $829.49 billion, a price-to-earnings ratio of 74.62, a PEG ratio of 1.37 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business has a fifty day moving average price of $799.63 and a 200-day moving average price of $846.07.

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 return on equity of 86.26% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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 boost 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 dividend on an annualized basis and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on LLY shares. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Citigroup reduced their price objective on 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. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.