Cumberland Partners Ltd Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Cumberland Partners Ltd raised its stake in Eli Lilly and Company (NYSE:LLY) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,273 shares of the company’s stock after buying an additional 1,289 shares during the quarter. Eli Lilly and Company accounts for 1.3% of Cumberland Partners Ltd’s investment portfolio, making the stock its 26th biggest holding. Cumberland Partners Ltd’s holdings in Eli Lilly and Company were worth $17,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after buying an additional 85,823 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eli Lilly and Company by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after acquiring an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Eli Lilly and Company by 3.5% in the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after purchasing an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Eli Lilly and Company by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock worth $1,731,168,000 after purchasing an additional 12,044 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LLY shares. 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. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Up 0.8 %

LLY stock opened at $873.77 on Friday. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $829.49 billion, a P/E ratio of 74.62, a PEG ratio of 1.37 and a beta of 0.42. The company’s 50-day simple moving average is $799.63 and its 200-day simple moving average is $846.07.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 net margin of 23.51% and a return on equity of 86.26%. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.69%. 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 presently 51.24%.

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.