Eli Lilly and Company (NYSE:LLY) Shares Acquired by Tufton Capital Management

Tufton Capital Management boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,789 shares of the company’s stock after purchasing an additional 212 shares during the quarter. Tufton Capital Management’s holdings in Eli Lilly and Company were worth $3,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. AMF Tjanstepension AB boosted its position in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares during the period. Values Added Financial LLC boosted its position in Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after purchasing an additional 17 shares during the period. Pursue Wealth Partners LLC acquired a new position in Eli Lilly and Company during the 3rd quarter valued at approximately $364,000. Lodestar Private Asset Management LLC boosted its position in Eli Lilly and Company by 17.6% during the 3rd quarter. Lodestar Private Asset Management LLC now owns 1,003 shares of the company’s stock valued at $888,000 after purchasing an additional 150 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in Eli Lilly and Company by 2.7% during the 3rd quarter. Highview Capital Management LLC DE now owns 6,763 shares of the company’s stock valued at $5,992,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Price Performance

NYSE LLY opened at $904.76 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $857.87 billion, a price-to-earnings ratio of 77.26, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a 50 day simple moving average of $811.83 and a 200-day simple moving average of $848.85. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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 85.24%. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

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

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.