United Community Bank Acquires 120 Shares of Eli Lilly and Company (NYSE:LLY)

United Community Bank grew its holdings in Eli Lilly and Company (NYSE:LLY) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197 shares of the company’s stock after purchasing an additional 120 shares during the period. United Community Bank’s holdings in Eli Lilly and Company were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Personal CFO Solutions LLC boosted its position in shares of Eli Lilly and Company by 20.5% during the fourth quarter. Personal CFO Solutions LLC now owns 3,302 shares of the company’s stock valued at $2,549,000 after buying an additional 562 shares during the last quarter. Barings LLC lifted its stake in Eli Lilly and Company by 251.4% during the 4th quarter. Barings LLC now owns 1,669 shares of the company’s stock valued at $1,288,000 after acquiring an additional 1,194 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Eli Lilly and Company by 18.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 49,602 shares of the company’s stock valued at $38,293,000 after acquiring an additional 7,562 shares during the last quarter. Naviter Wealth LLC grew its stake in shares of Eli Lilly and Company by 82.4% in the fourth quarter. Naviter Wealth LLC now owns 10,019 shares of the company’s stock worth $7,734,000 after acquiring an additional 4,525 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $121,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $868.59 on Friday. The stock has a 50-day moving average price of $826.63 and a 200 day moving average price of $847.97. The stock has a market capitalization of $823.57 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. 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 (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (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%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

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

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

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Truist Financial boosted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average 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.