Eli Lilly and Company (NYSE:LLY) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,814 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Sound Income Strategies LLC’s holdings in Eli Lilly and Company were worth $3,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC grew its holdings in Eli Lilly and Company by 92,759.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after buying an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC grew its holdings in Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after buying an additional 692,303 shares during the period. Assenagon Asset Management S.A. grew its holdings in Eli Lilly and Company by 100.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock valued at $1,032,737,000 after buying an additional 584,866 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in Eli Lilly and Company by 599.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after buying an additional 369,293 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $784.78 on Monday. The business’s 50 day moving average is $776.69 and its two-hundred day moving average is $848.83. Eli Lilly and Company has a 52-week low of $624.68 and a 52-week high of $972.53. The firm has a market cap of $745.01 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. 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. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has initiated a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. 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 for the company in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Activity at Eli Lilly and Company

In related 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 sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.