Sierra Ocean LLC Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Sierra Ocean LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 503 shares of the company’s stock, valued at approximately $389,000.

Several other institutional investors have also bought and sold shares of LLY. J.W. Cole Advisors Inc. raised its position in shares of Eli Lilly and Company by 3.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 9,848 shares of the company’s stock worth $7,603,000 after acquiring an additional 300 shares during the last quarter. Opes Wealth Management LLC raised its position in shares of Eli Lilly and Company by 33.9% during the fourth quarter. Opes Wealth Management LLC now owns 316 shares of the company’s stock worth $244,000 after acquiring an additional 80 shares during the last quarter. Lee Financial Co raised its position in shares of Eli Lilly and Company by 4.8% during the fourth quarter. Lee Financial Co now owns 2,417 shares of the company’s stock worth $1,866,000 after acquiring an additional 110 shares during the last quarter. VeraBank N.A. raised its position in shares of Eli Lilly and Company by 0.6% during the fourth quarter. VeraBank N.A. now owns 3,689 shares of the company’s stock worth $2,848,000 after acquiring an additional 23 shares during the last quarter. Finally, MN Wealth Advisors LLC raised its position in shares of Eli Lilly and Company by 14.4% during the fourth quarter. MN Wealth Advisors LLC now owns 2,156 shares of the company’s stock worth $1,665,000 after acquiring an additional 272 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.1 %

Shares of LLY stock opened at $844.82 on Tuesday. The company has a market capitalization of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The business’s fifty day moving average is $794.44 and its 200 day moving average is $845.27.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 86.26%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is an increase 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 dividend yield of 0.71%. Eli Lilly and Company’s payout ratio is presently 44.41%.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently 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 for the company. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company dropped 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 report on Tuesday, January 28th. Finally, Truist Financial upped their price objective 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and 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.