Raymond James Financial Inc. Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Raymond James Financial Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,607,063 shares of the company's stock, valued at approximately $1,240,653,000. Raymond James Financial Inc. owned approximately 0.17% of Eli Lilly and Company at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC increased 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 worth $35,000 after buying an additional 20 shares during the period. Kovitz Investment Group Partners LLC increased its position in Eli Lilly and Company by 117.1% in the third 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 period. Finally, FPC Investment Advisory Inc. increased its position in Eli Lilly and Company by 358.3% in the fourth 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 period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in 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. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Bank of America reissued a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $1,007.50.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $930.12 on Thursday. The business's 50-day moving average price is $822.55 and its 200 day moving average price is $848.61. The firm has a market cap of $881.91 billion, a P/E ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio (DPR) is currently 51.24%.

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

Eli Lilly and Company 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.

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