Sherman Asset Management Inc. Acquires Shares of 6,015 Eli Lilly and Company (NYSE:LLY)

Sherman Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,015 shares of the company’s stock, valued at approximately $4,644,000. Eli Lilly and Company accounts for about 4.2% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC increased its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC increased its position in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. Finally, FPC Investment Advisory Inc. increased its position in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Price Performance

LLY opened at $920.44 on Friday. 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 stock has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The company’s 50-day simple moving average is $814.88 and its two-hundred day simple moving average is $848.69. 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 issued its quarterly earnings data 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, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has approved a share 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 an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

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.