Sherman Asset Management Inc. Invests $4.64 Million in Eli Lilly and Company (NYSE:LLY)

Sherman Asset Management Inc. bought a new position in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,015 shares of the company’s stock, valued at approximately $4,644,000. Eli Lilly and Company makes up approximately 4.2% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds also recently bought and sold shares of LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. grew its stake in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.7 %

Shares of LLY opened at $920.44 on Friday. The firm has a market cap of $872.73 billion, a price-to-earnings ratio of 78.60, a PEG ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm has a 50 day moving average price of $814.88 and a 200-day moving average price of $848.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. 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 yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wolfe Research began 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. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, 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. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

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.