KMG Fiduciary Partners LLC grew its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,361 shares of the company’s stock after acquiring an additional 831 shares during the period. Eli Lilly and Company accounts for 1.7% of KMG Fiduciary Partners LLC’s holdings, making the stock its 10th biggest holding. KMG Fiduciary Partners LLC’s holdings in Eli Lilly and Company were worth $20,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in LLY. Beck Bode LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $15,036,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Eli Lilly and Company by 8.2% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 357 shares of the company’s stock worth $323,000 after purchasing an additional 27 shares during the period. XTX Topco Ltd purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $546,000. Intech Investment Management LLC lifted its position in shares of Eli Lilly and Company by 4.6% in the 2nd quarter. Intech Investment Management LLC now owns 229,995 shares of the company’s stock worth $208,233,000 after purchasing an additional 10,215 shares during the period. Finally, Brighton Jones LLC lifted its position in shares of Eli Lilly and Company by 0.4% in the 2nd quarter. Brighton Jones LLC now owns 11,497 shares of the company’s stock worth $10,409,000 after purchasing an additional 49 shares during the period. 82.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on LLY shares. Barclays lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup increased their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.
Eli Lilly and Company Trading Down 4.1 %
NYSE LLY opened at $726.24 on Friday. The company has a fifty day simple moving average of $783.25 and a two-hundred day simple moving average of $856.02. The stock has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, analysts forecast that Eli Lilly and Company will post 13.14 earnings per share for the current 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 paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.
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 outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Insider Transactions at Eli Lilly and Company
In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.
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.
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