Mattern Capital Management LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Mattern Capital Management LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 183.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 807 shares of the company's stock after buying an additional 522 shares during the period. Mattern Capital Management LLC's holdings in Eli Lilly and Company were worth $623,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Inscription Capital LLC lifted its holdings in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company's stock valued at $1,083,000 after acquiring an additional 12 shares during the last quarter. Garner Asset Management Corp raised its position in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the period. Detalus Advisors LLC raised its position in Eli Lilly and Company by 1.7% in the 3rd quarter. Detalus Advisors LLC now owns 798 shares of the company's stock worth $707,000 after purchasing an additional 13 shares during the period. PSI Advisors LLC raised its position in Eli Lilly and Company by 0.4% in the 3rd quarter. PSI Advisors LLC now owns 2,908 shares of the company's stock worth $2,576,000 after purchasing an additional 13 shares during the period. Finally, Boston Financial Mangement LLC raised its position in Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company's stock worth $4,447,000 after purchasing an additional 13 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

LLY traded up $1.00 on Friday, reaching $874.12. The stock had a trading volume of 3,937,537 shares, compared to its average volume of 3,765,032. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business's 50-day moving average price is $799.63 and its two-hundred day moving average price is $846.07. The company has a market cap of $829.82 billion, a P/E ratio of 74.65, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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 86.26%. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has authorized 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 buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company's payout ratio is presently 51.24%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LLY shares. 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. Citigroup reduced their price objective on shares of 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. Wells Fargo & Company reduced their price objective 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. Deutsche Bank Aktiengesellschaft reduced 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 research report on Monday, November 4th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $997.50.

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.