Range Financial Group LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

Range Financial Group LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 476.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,529 shares of the company’s stock after buying an additional 3,744 shares during the quarter. Eli Lilly and Company comprises about 1.6% of Range Financial Group LLC’s holdings, making the stock its 8th largest position. Range Financial Group LLC’s holdings in Eli Lilly and Company were worth $3,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its stake 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 valued at $5,245,000 after purchasing an additional 724 shares during the period. M&T Bank Corp raised its stake in shares of Eli Lilly and Company by 0.7% during the 3rd 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 during the period. Everence Capital Management Inc. raised its stake in shares of Eli Lilly and Company by 3.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after purchasing an additional 690 shares during the period. Nordea Investment Management AB raised its stake in shares of Eli Lilly and Company by 13.7% during the 4th quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock valued at $887,014,000 after purchasing an additional 138,835 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $899,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Trading Up 1.0 %

LLY stock traded up $7.99 during trading on Tuesday, hitting $773.09. 3,566,298 shares of the company traded hands, compared to its average volume of 2,819,555. The firm has a market capitalization of $733.91 billion, a PE ratio of 83.58, a P/E/G ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $609.59 and a 1 year high of $972.53. The company has a 50-day moving average of $791.18 and a 200-day moving average of $862.49. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

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

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change 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 yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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.