Bailard Inc. Buys 1,852 Shares of Eli Lilly and Company (NYSE:LLY)

Bailard Inc. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,045 shares of the company’s stock after purchasing an additional 1,852 shares during the quarter. Bailard Inc.’s holdings in Eli Lilly and Company were worth $10,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares in the last quarter. Centerpoint Advisory Group bought a new position in Eli Lilly and Company in the fourth quarter valued at about $514,000. M&T Bank Corp lifted its holdings in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after acquiring an additional 1,867 shares during the period. Kentucky Trust Co bought a new position in Eli Lilly and Company in the fourth quarter valued at about $834,000. Finally, Cooper Financial Group lifted its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on 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

NYSE:LLY opened at $920.44 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The stock has a 50-day moving average price of $814.88 and a 200 day moving average price of $848.69. 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.

Eli Lilly and Company (NYSE:LLY) last released 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 85.24% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, February 14th. 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 51.24%.

Eli Lilly and Company declared that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are generally 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.