Boston Common Asset Management LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,028 shares of the company's stock after purchasing an additional 5,465 shares during the period. Boston Common Asset Management LLC's holdings in Eli Lilly and Company were worth $18,550,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC boosted its position in Eli Lilly and Company by 80.0% in the fourth 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 last quarter. Cedar Mountain Advisors LLC increased its holdings 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 worth $41,000 after buying an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its position 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 buying an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Citigroup increased their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 price target for the company. Four 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 company presently has an average rating of "Moderate Buy" and an average price target of $1,002.22.
Check Out Our Latest Stock Analysis on LLY
Insider Transactions at Eli Lilly and Company
In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.
Eli Lilly and Company Price Performance
Shares of Eli Lilly and Company stock traded down $31.36 during mid-day trading on Friday, reaching $726.24. 5,497,108 shares of the stock traded hands, compared to its average volume of 2,736,766. The stock has a market capitalization of $689.43 billion, a PE ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. The business has a 50-day moving average of $781.14 and a 200 day moving average of $854.35. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. On average, analysts predict that Eli Lilly and Company will post 13.14 EPS for the current year.
Eli Lilly and Company Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company's dividend payout ratio is currently 64.86%.
Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
About Eli Lilly and Company
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Free Report)
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.
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