Hager Investment Management Services LLC Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Hager Investment Management Services LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 5,811 shares of the company’s stock, valued at approximately $4,486,000. Eli Lilly and Company makes up 2.8% of Hager Investment Management Services LLC’s holdings, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. International Assets Investment Management LLC grew its stake in Eli Lilly and Company by 87,091.7% during 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 acquiring an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after purchasing an additional 692,303 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Eli Lilly and Company by 100.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after buying an additional 584,866 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in Eli Lilly and Company by 599.9% during the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after buying an additional 369,293 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LLY. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Truist Financial raised their target price 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of 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. Citigroup lowered 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. Finally, Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 3.4 %

Shares of Eli Lilly and Company stock opened at $870.56 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $707.02 and a 52-week high of $972.53. The company’s 50 day moving average price is $786.57 and its 200-day moving average price is $843.28. The stock has a market capitalization of $826.44 billion, a price-to-earnings ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Equities research analysts forecast that Eli Lilly and Company will post 12.85 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

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.