Ellis Investment Partners LLC Purchases 82 Shares of Eli Lilly and Company (NYSE:LLY)

Ellis Investment Partners LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,209 shares of the company’s stock after acquiring an additional 82 shares during the period. Ellis Investment Partners LLC’s holdings in Eli Lilly and Company were worth $933,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Trading Down 3.1 %

Shares of LLY stock opened at $844.82 on Monday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm’s 50 day moving average is $794.44 and its 200 day moving average is $844.98. The stock has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

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