Mill Creek Capital Advisors LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Mill Creek Capital Advisors LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409 shares of the company’s stock after selling 41 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Pineridge Advisors LLC raised its holdings in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Pineridge Advisors LLC now owns 1,250 shares of the company’s stock valued at $965,000 after acquiring an additional 56 shares in the last quarter. Panoramic Capital Partners LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $323,000. International Private Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $957,000. First National Corp MA ADV boosted its stake in shares of Eli Lilly and Company by 1.7% during the 4th quarter. First National Corp MA ADV now owns 4,423 shares of the company’s stock valued at $3,414,000 after purchasing an additional 73 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Eli Lilly and Company by 0.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 6,191 shares of the company’s stock worth $4,779,000 after buying an additional 52 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their price objective on 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. Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

LLY stock opened at $865.13 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company has a market cap of $821.28 billion, a P/E ratio of 73.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The stock’s fifty day moving average price is $791.24 and its 200-day moving average price is $843.52.

Eli Lilly and Company (NYSE:LLY) last announced 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%. On average, equities analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 44.41%.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows 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 stock is undervalued.

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.