Davis Investment Partners LLC Increases Position in Eli Lilly and Company (NYSE:LLY)

Davis Investment Partners LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 23.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,061 shares of the company’s stock after acquiring an additional 204 shares during the quarter. Davis Investment Partners LLC’s holdings in Eli Lilly and Company were worth $849,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC increased its holdings 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 worth $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, West Financial Advisors LLC purchased a new position in Eli Lilly and Company in the third quarter valued at about $58,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $797.17 on Tuesday. The firm has a market capitalization of $756.77 billion, a PE ratio of 86.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. 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 $612.70 and a 12 month high of $972.53. The business’s 50-day moving average price is $785.91 and its 200-day moving average price is $858.62.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the business posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost 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 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company declared that its board has initiated a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Barclays reduced 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 note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

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.