Marble Harbor Investment Counsel LLC Has $4.53 Million Position in Eli Lilly and Company (NYSE:LLY)

Marble Harbor Investment Counsel LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 5,864 shares of the company’s stock after selling 100 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Eli Lilly and Company were worth $4,527,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Eli Lilly and Company by 5.3% in the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after purchasing an additional 60,306 shares during the period. Hara Capital LLC acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $58,000. Consolidated Planning Corp grew its stake in Eli Lilly and Company by 64.3% in the 3rd quarter. Consolidated Planning Corp now owns 5,254 shares of the company’s stock valued at $4,655,000 after buying an additional 2,057 shares during the last quarter. Portside Wealth Group LLC raised its holdings in Eli Lilly and Company by 13.1% in the 3rd quarter. Portside Wealth Group LLC now owns 3,158 shares of the company’s stock worth $2,798,000 after acquiring an additional 365 shares during the period. Finally, Mainstream Capital Management LLC acquired a new position in Eli Lilly and Company during the 3rd quarter worth $238,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Truist Financial raised 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 report on Monday, February 3rd. Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.50.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $868.59 on Friday. The stock’s fifty day simple moving average is $826.63 and its 200 day simple moving average is $848.68. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The firm has a market cap 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. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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 given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company declared that its board has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and 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.