Eli Lilly and Company (NYSE:LLY) Stock Position Decreased by Denali Advisors LLC

Denali Advisors LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 12.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,688 shares of the company’s stock after selling 1,865 shares during the quarter. Eli Lilly and Company makes up 1.1% of Denali Advisors LLC’s holdings, making the stock its 11th largest holding. Denali Advisors LLC’s holdings in Eli Lilly and Company were worth $10,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the period. Finally, FPC Investment Advisory Inc. boosted its position in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company reduced their price target 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 report on Tuesday, January 28th. Citigroup lowered their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Performance

LLY opened at $902.47 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market cap of $855.69 billion, a PE ratio of 77.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The stock has a 50-day moving average of $805.87 and a 200-day moving average of $847.99. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

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 the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share 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. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. 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 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company announced that its Board of Directors has authorized a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.