Manchester Financial Inc. Buys 107 Shares of Eli Lilly and Company (NYSE:LLY)

Manchester Financial Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 19.7% during the fourth quarter, HoldingsChannel reports. The firm owned 649 shares of the company’s stock after acquiring an additional 107 shares during the quarter. Manchester Financial Inc.’s holdings in Eli Lilly and Company were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC raised its stake in Eli Lilly and Company by 80.0% in the 4th 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 period. Hara Capital LLC bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $58,000. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter valued at $50,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY opened at $844.82 on Friday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $802.01 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The business has a 50-day moving average of $794.07 and a 200-day moving average of $844.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 44.41%.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.