Dividend Assets Capital LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Dividend Assets Capital LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394 shares of the company’s stock after selling 39 shares during the period. Dividend Assets Capital LLC’s holdings in Eli Lilly and Company were worth $1,076,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AMF Tjanstepension AB boosted its holdings in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares during the last quarter. Values Added Financial LLC raised its holdings in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after purchasing an additional 17 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. YHB Investment Advisors Inc. grew its holdings in shares of Eli Lilly and Company by 16.1% during the 3rd quarter. YHB Investment Advisors Inc. now owns 5,392 shares of the company’s stock worth $4,777,000 after purchasing an additional 746 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its position in Eli Lilly and Company by 1.9% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,984 shares of the company’s stock worth $2,644,000 after purchasing an additional 56 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of LLY opened at $874.12 on Friday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a fifty day moving average price of $801.33 and a 200 day moving average price of $846.75. The company has a market cap of $829.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.39 and a beta of 0.42.

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 the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company 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 dividend yield of 0.69%. This is a positive change 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%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

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.