First Business Financial Services Inc. Purchases 121 Shares of Eli Lilly and Company (NYSE:LLY)

First Business Financial Services Inc. boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,015 shares of the company’s stock after purchasing an additional 121 shares during the period. Eli Lilly and Company comprises about 0.5% of First Business Financial Services Inc.’s investment portfolio, making the stock its 20th biggest position. First Business Financial Services Inc.’s holdings in Eli Lilly and Company were worth $4,644,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. lifted its holdings in Eli Lilly and Company by 60.5% during the 4th quarter. Dana Investment Advisors Inc. now owns 34,283 shares of the company’s stock valued at $26,467,000 after purchasing an additional 12,919 shares during the last quarter. Arizona State Retirement System lifted its holdings in Eli Lilly and Company by 1.1% during the 4th quarter. Arizona State Retirement System now owns 234,962 shares of the company’s stock valued at $181,391,000 after purchasing an additional 2,468 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. SPC Financial Inc. lifted its holdings in Eli Lilly and Company by 12.4% during the 4th quarter. SPC Financial Inc. now owns 598 shares of the company’s stock valued at $462,000 after purchasing an additional 66 shares during the last quarter. Finally, LVZ Inc. increased its position in Eli Lilly and Company by 11.8% in the 4th quarter. LVZ Inc. now owns 1,011 shares of the company’s stock valued at $780,000 after acquiring an additional 107 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $930.12 on Thursday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The firm’s 50 day moving average price is $822.55 and its two-hundred day moving average price is $848.61. The firm has a market cap of $881.91 billion, a P/E ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. On average, 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LLY. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company 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.