Quadrant Private Wealth Management LLC Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Quadrant Private Wealth Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,215 shares of the company’s stock after selling 244 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. AMF Tjanstepension AB boosted its stake in shares of 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 buying an additional 176,552 shares during the last quarter. Values Added Financial LLC raised its position in shares of 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 acquiring an additional 17 shares in the last quarter. RFG Advisory LLC raised its position in shares of Eli Lilly and Company by 7.6% during the 3rd quarter. RFG Advisory LLC now owns 9,006 shares of the company’s stock valued at $7,979,000 after acquiring an additional 635 shares in the last quarter. Madrona Financial Services LLC raised its position in shares of Eli Lilly and Company by 12.4% during the 3rd quarter. Madrona Financial Services LLC now owns 282 shares of the company’s stock valued at $250,000 after acquiring an additional 31 shares in the last quarter. Finally, CHB Investment Group LLC acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $2,764,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Truist Financial increased their target price 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. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY opened at $844.82 on Friday. The firm has a market capitalization of $802.01 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock’s fifty day moving average is $794.44 and its 200-day moving average is $844.60.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Equities analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized 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 reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

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.