SBI Securities Co. Ltd. Invests $15.42 Million in Eli Lilly and Company (NYSE:LLY)

SBI Securities Co. Ltd. bought a new stake in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,967 shares of the company’s stock, valued at approximately $15,415,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares in the last quarter. Key Financial Inc raised its stake in shares of Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after purchasing an additional 13 shares in the last quarter. Shoker Investment Counsel Inc. increased its stake in shares of Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares during the last quarter. Vestia Personal Wealth Advisors lifted its position in shares of Eli Lilly and Company by 1.7% in the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after buying an additional 13 shares during the last quarter. Finally, Altrius Capital Management Inc lifted its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after buying an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 1.7 %

Shares of NYSE LLY opened at $920.44 on Friday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business has a fifty day moving average price of $814.88 and a 200 day moving average price of $848.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 85.24%. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,000.28.

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.