Hartline Investment Corp Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Hartline Investment Corp decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,517 shares of the company’s stock after selling 11,441 shares during the quarter. Eli Lilly and Company comprises 1.4% of Hartline Investment Corp’s holdings, making the stock its 19th largest holding. Hartline Investment Corp’s holdings in Eli Lilly and Company were worth $11,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. Finally, Hara Capital LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter worth $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 0.4 %

LLY opened at $865.13 on Wednesday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market capitalization of $821.28 billion, a P/E ratio of 73.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The business’s 50-day simple moving average is $791.24 and its 200-day simple moving average is $843.52.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. Analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. 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. Eli Lilly and Company’s payout ratio is presently 44.41%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Truist Financial boosted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Finally, Bank of America reissued 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. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average 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.