Northeast Investment Management Purchases 2,226 Shares of Eli Lilly and Company (NYSE:LLY)

Northeast Investment Management increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 53,478 shares of the company’s stock after purchasing an additional 2,226 shares during the period. Eli Lilly and Company makes up about 1.8% of Northeast Investment Management’s portfolio, making the stock its 16th biggest position. Northeast Investment Management’s holdings in Eli Lilly and Company were worth $41,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Wealth & Retirement Planning Inc. boosted its stake in Eli Lilly and Company by 84.5% in the fourth quarter. Summit Wealth & Retirement Planning Inc. now owns 546 shares of the company’s stock worth $422,000 after purchasing an additional 250 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in shares of Eli Lilly and Company by 8.1% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 322 shares of the company’s stock valued at $248,000 after buying an additional 24 shares during the last quarter. WCM Investment Management LLC lifted its position in Eli Lilly and Company by 26.0% during the 4th quarter. WCM Investment Management LLC now owns 16,705 shares of the company’s stock worth $12,927,000 after buying an additional 3,445 shares in the last quarter. Entropy Technologies LP grew its holdings in Eli Lilly and Company by 113.6% during the 4th quarter. Entropy Technologies LP now owns 8,141 shares of the company’s stock worth $6,285,000 after acquiring an additional 4,329 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Eli Lilly and Company by 9.6% in the 4th quarter. Empowered Funds LLC now owns 34,841 shares of the company’s stock valued at $26,897,000 after acquiring an additional 3,045 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 1.1 %

NYSE LLY opened at $868.57 on Tuesday. The company has a market cap of $824.55 billion, a PE ratio of 74.17, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock has a 50 day moving average of $789.87 and a 200-day moving average of $843.19. 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 (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal 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 given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on LLY shares. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday. Four equities 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, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

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.