Eli Lilly and Company (NYSE:LLY) is Roanoke Asset Management Corp NY’s 8th Largest Position

Roanoke Asset Management Corp NY raised its position in Eli Lilly and Company (NYSE:LLY) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 12,567 shares of the company’s stock after purchasing an additional 330 shares during the period. Eli Lilly and Company accounts for 3.1% of Roanoke Asset Management Corp NY’s holdings, making the stock its 8th biggest holding. Roanoke Asset Management Corp NY’s holdings in Eli Lilly and Company were worth $9,701,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. raised its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $920.44 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $872.73 billion, a PE ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business’s fifty day moving average price is $814.88 and its two-hundred day moving average price is $849.10.

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 85.24% and a net margin of 23.51%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS 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 of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.65%. 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%.

Analyst Ratings Changes

A number of analysts recently issued reports on LLY shares. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target 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 report 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. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

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.