Sitrin Capital Management LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Sitrin Capital Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,622 shares of the company’s stock after buying an additional 27 shares during the quarter. Eli Lilly and Company accounts for approximately 2.6% of Sitrin Capital Management LLC’s holdings, making the stock its 20th largest position. Sitrin Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,112,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the period. FPC Investment Advisory Inc. increased its holdings in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Finally, Hara Capital LLC acquired a new position in Eli Lilly and Company in the third quarter valued at $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. 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 research report on Friday, January 17th. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Up 2.4 %

LLY stock opened at $902.47 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a 50 day simple moving average of $805.87 and a 200-day simple moving average of $847.99. The company has a market capitalization of $855.69 billion, a P/E ratio of 77.07, a PEG ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.