Buckingham Capital Management Inc. Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Buckingham Capital Management Inc. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,123 shares of the company’s stock after selling 2,093 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Eli Lilly and Company were worth $4,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Hara Capital LLC bought a new position in shares of Eli Lilly and Company in the third quarter worth about $58,000. Finally, Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.6 %

Shares of NYSE LLY opened at $857.38 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $813.93 billion, a PE ratio of 73.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The stock’s fifty day simple moving average is $796.41 and its two-hundred day simple moving average is $845.73. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53.

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 net margin of 23.51% and a return on equity of 86.26%. As a group, analysts expect 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 $1.50 dividend. 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 dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company announced that its board 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 buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average 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.