Ieq Capital LLC Acquires 4,595 Shares of Eli Lilly and Company (NYSE:LLY)

Ieq Capital LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,784 shares of the company’s stock after purchasing an additional 4,595 shares during the period. Ieq Capital LLC’s holdings in Eli Lilly and Company were worth $51,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWA Asset Management Group LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $514,000. M&T Bank Corp lifted its stake in 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 worth $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $834,000. Finally, Cooper Financial Group boosted its holdings 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 purchasing an additional 695 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on LLY shares. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. 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 price target for the company. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 0.8 %

Shares of Eli Lilly and Company stock opened at $873.77 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a market cap of $829.49 billion, a P/E ratio of 74.62, a PEG ratio of 1.37 and a beta of 0.42. The company’s fifty day simple moving average is $799.63 and its two-hundred day simple moving average is $846.07.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Research analysts anticipate 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 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 buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership 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.