RB Capital Management LLC Increases Stake in Eli Lilly and Company (NYSE:LLY)

RB Capital Management LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,835 shares of the company’s stock after buying an additional 868 shares during the period. RB Capital Management LLC’s holdings in Eli Lilly and Company were worth $3,397,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Chesley Taft & Associates LLC increased its position in shares of Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $239,000. Long Run Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $209,000. Essex Financial Services Inc. increased its position in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its holdings in shares of Eli Lilly and Company by 1,420.5% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 28,449 shares of the company’s stock valued at $25,757,000 after buying an additional 26,578 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LLY shares. Bank of America lowered their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Berenberg Bank increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Down 2.9 %

Shares of NYSE LLY opened at $802.94 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The firm has a 50-day moving average price of $841.04 and a 200 day moving average price of $871.97. The stock has a market capitalization of $762.25 billion, a price-to-earnings ratio of 86.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities research analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 56.22%.

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.