Suncoast Equity Management Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Suncoast Equity Management boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 60.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,779 shares of the company's stock after buying an additional 15,698 shares during the period. Eli Lilly and Company makes up about 3.6% of Suncoast Equity Management's holdings, making the stock its 13th largest holding. Suncoast Equity Management's holdings in Eli Lilly and Company were worth $32,253,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc bought a new stake in Eli Lilly and Company during the fourth quarter worth about $50,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 0.1 %

Shares of LLY stock traded up $1.00 during midday trading on Friday, reaching $874.12. 3,937,537 shares of the stock were exchanged, compared to its average volume of 3,765,032. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company's 50 day moving average is $799.63 and its two-hundred day moving average is $846.07. 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 firm has a market cap of $829.82 billion, a PE 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 posted its 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 86.26% and a net margin of 23.51%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 0.69%. Eli Lilly and Company's dividend payout ratio is 51.24%.

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

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Bank of America reissued a "buy" rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Redburn Atlantic raised Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Finally, Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Four research 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, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $997.50.

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.