FPC Investment Advisory Inc. Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

FPC Investment Advisory Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 358.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55 shares of the company’s stock after buying an additional 43 shares during the quarter. FPC Investment Advisory Inc.’s holdings in Eli Lilly and Company were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 worth $5,417,970,000 after purchasing an additional 157,741 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of 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. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Eli Lilly and Company by 0.6% in 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 during the last quarter. Finally, National Pension Service raised its stake in shares of Eli Lilly and Company by 15.2% in the third quarter. National Pension Service now owns 1,544,484 shares of the company’s stock worth $1,368,320,000 after purchasing an additional 204,243 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LLY shares. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Three equities research 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 $1,000.28.

Eli Lilly and Company Stock Up 0.1 %

Shares of LLY opened at $874.12 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock’s 50 day moving average is $801.33 and its two-hundred day moving average is $847.13. The firm has a market cap of $828.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42.

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 85.24%. Analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

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

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.