Parthenon LLC Sells 315 Shares of Eli Lilly and Company (NYSE:LLY)

Parthenon LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,352 shares of the company's stock after selling 315 shares during the period. Parthenon LLC's holdings in Eli Lilly and Company were worth $4,132,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company's stock valued at $15,089,563,000 after buying an additional 85,823 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock valued at $11,041,631,000 after buying 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 shares of Eli Lilly and Company by 2.6% in the third 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 in the last quarter. Fisher Asset Management LLC raised its position in shares of Eli Lilly and Company by 3.5% in the third 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 in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Eli Lilly and Company by 0.6% in the third 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 in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.3 %

Shares of Eli Lilly and Company stock traded up $2.48 during trading on Friday, hitting $875.60. The company's stock had a trading volume of 2,906,857 shares, compared to its average volume of 3,730,904. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market cap of $831.22 billion, a price-to-earnings ratio of 74.86, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42. The stock has a 50-day moving average price of $799.63 and a two-hundred day moving average price of $846.07.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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 86.26% and a net margin of 23.51%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company's payout ratio is presently 51.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America reissued a "buy" rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Finally, Citigroup decreased 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 note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target 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.