Hamilton Capital Partners LLC Acquires New Shares in Eli Lilly and Company (NYSE:LLY)

Hamilton Capital Partners LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, Holdings Channel reports. The fund bought 6,705 shares of the company’s stock, valued at approximately $5,177,000. Eli Lilly and Company makes up approximately 3.2% of Hamilton Capital Partners LLC’s holdings, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares in the last quarter. Shoker Investment Counsel Inc. raised its holdings in shares of Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after acquiring an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors boosted its position in shares of Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after acquiring an additional 13 shares during the last quarter. Altrius Capital Management Inc grew its holdings in shares of Eli Lilly and Company by 1.0% during the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after purchasing an additional 13 shares in the last quarter. Finally, GSG Advisors LLC grew its holdings in shares of Eli Lilly and Company by 3.2% during the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after purchasing an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 4.8 %

Shares of Eli Lilly and Company stock opened at $868.59 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company’s 50 day moving average price is $826.63 and its 200-day moving average price is $848.68. The stock has a market capitalization of $823.57 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company declared that its board has initiated a stock buyback plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LLY. 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. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.50.

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.