Forte Capital LLC ADV Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Forte Capital LLC ADV increased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,217 shares of the company's stock after purchasing an additional 595 shares during the period. Forte Capital LLC ADV's holdings in Eli Lilly and Company were worth $1,711,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock valued at $15,089,563,000 after purchasing an additional 85,823 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company's stock valued at $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC raised its position in Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company's stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Eli Lilly and Company by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company's stock valued at $1,731,168,000 after buying an additional 12,044 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LLY. Citigroup dropped 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 research report on Tuesday, January 28th. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. 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. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $997.50.

Eli Lilly and Company Stock Up 0.1 %

Eli Lilly and Company stock traded up $1.00 during trading on Friday, hitting $874.12. 3,937,537 shares of the company were exchanged, compared to its average volume of 3,765,032. The business's 50 day moving average is $799.63 and its 200 day moving average is $846.07. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a market capitalization of $829.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.39 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. Analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 represents a $6.00 annualized dividend and a yield of 0.69%. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio is 51.24%.

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.