Eli Lilly and Company (NYSE:LLY) Stake Increased by Core Alternative Capital

Core Alternative Capital lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,138 shares of the company’s stock after purchasing an additional 324 shares during the quarter. Eli Lilly and Company accounts for about 2.6% of Core Alternative Capital’s investment portfolio, making the stock its 6th biggest holding. Core Alternative Capital’s holdings in Eli Lilly and Company were worth $12,458,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LLY. CWA Asset Management Group LLC raised its stake in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the period. M&T Bank Corp boosted its stake in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Cooper Financial Group raised its position in shares of Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after acquiring an additional 695 shares in the last quarter. Everence Capital Management Inc. raised its holdings in Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after purchasing an additional 690 shares in the last quarter. Finally, Jacobs & Co. CA lifted its position in Eli Lilly and Company by 35.2% during the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after acquiring an additional 7,646 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on LLY shares. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Wells Fargo & Company dropped their price target 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, January 28th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Down 0.4 %

Shares of NYSE LLY opened at $865.13 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $791.24 and a 200 day moving average price of $843.52. 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 capitalization of $821.28 billion, a price-to-earnings ratio of 73.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released 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 86.26% and a net margin of 23.51%. Equities research analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s payout ratio is currently 44.41%.

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.