Requisite Capital Management LLC Purchases 44 Shares of Eli Lilly and Company (NYSE:LLY)

Requisite Capital Management LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508 shares of the company’s stock after buying an additional 44 shares during the quarter. Requisite Capital Management LLC’s holdings in Eli Lilly and Company were worth $392,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Novare Capital Management LLC boosted its holdings in Eli Lilly and Company by 11.4% in the fourth quarter. Novare Capital Management LLC now owns 587 shares of the company’s stock worth $453,000 after acquiring an additional 60 shares in the last quarter. Clarendon Private LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $1,143,000. Cora Capital Advisors LLC boosted its stake in Eli Lilly and Company by 3.6% in the 4th quarter. Cora Capital Advisors LLC now owns 1,012 shares of the company’s stock worth $781,000 after purchasing an additional 35 shares in the last quarter. Affinity Wealth Management LLC grew its position in Eli Lilly and Company by 0.7% during the 4th quarter. Affinity Wealth Management LLC now owns 12,769 shares of the company’s stock valued at $9,858,000 after purchasing an additional 95 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. increased its stake in Eli Lilly and Company by 0.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 21,663 shares of the company’s stock valued at $16,724,000 after purchasing an additional 159 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.4 %

Shares of LLY opened at $804.87 on Wednesday. Eli Lilly and Company has a 12-month low of $637.00 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 company has a market capitalization of $764.08 billion, a PE ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The business’s 50 day moving average is $778.30 and its 200 day moving average is $847.30.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. 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 currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LLY. Wells Fargo & Company dropped their target price 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 note on Tuesday. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Citigroup decreased their price target 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Barclays lowered 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 report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $997.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.