Forbes J M & Co. LLP Has $1.54 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Forbes J M & Co. LLP increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,991 shares of the company’s stock after acquiring an additional 382 shares during the quarter. Forbes J M & Co. LLP’s holdings in Eli Lilly and Company were worth $1,537,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $878.09 on Monday. The company has a 50 day moving average of $789.87 and a 200 day moving average of $843.31. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $833.58 billion, a P/E ratio of 74.99, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal 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 issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. 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 presently 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday. Barclays decreased their price objective on shares of 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. Bank of America reaffirmed 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company 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.