Mountain Pacific Investment Advisers LLC Has $274,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Mountain Pacific Investment Advisers LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 355 shares of the company’s stock after selling 30 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Eli Lilly and Company were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Wealthquest Corp increased its stake in Eli Lilly and Company by 0.4% during the 4th quarter. Wealthquest Corp now owns 5,278 shares of the company’s stock worth $4,075,000 after acquiring an additional 22 shares during the period. Amplius Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 4.2% in the fourth quarter. Amplius Wealth Advisors LLC now owns 1,526 shares of the company’s stock worth $1,178,000 after purchasing an additional 61 shares during the period. Harbor Investment Advisory LLC increased its position in shares of Eli Lilly and Company by 5.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 10,696 shares of the company’s stock worth $8,257,000 after purchasing an additional 546 shares during the period. Gemmer Asset Management LLC lifted its position in Eli Lilly and Company by 4.9% during the fourth quarter. Gemmer Asset Management LLC now owns 1,091 shares of the company’s stock worth $843,000 after purchasing an additional 51 shares during the period. Finally, Overbrook Management Corp acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $7,321,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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. Bank of America reiterated 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. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 2.2 %

NYSE LLY opened at $741.98 on Wednesday. Eli Lilly and Company has a one year low of $614.82 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business has a 50 day simple moving average of $779.00 and a 200 day simple moving average of $852.83. The stock has a market capitalization of $704.38 billion, a P/E ratio of 80.21, a P/E/G ratio of 1.52 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the business earned $0.10 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 12.98 earnings per share 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. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company announced that its board has initiated a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

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.