Bellecapital International Ltd. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Bellecapital International Ltd. lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,219 shares of the company’s stock after acquiring an additional 150 shares during the period. Bellecapital International Ltd.’s holdings in Eli Lilly and Company were worth $1,713,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 80.0% during 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 last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.7 %

Shares of LLY opened at $920.44 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock has a market capitalization of $872.73 billion, a price-to-earnings ratio of 78.60, a PEG ratio of 1.40 and a beta of 0.42. The stock has a 50 day moving average price of $814.88 and a 200 day moving average price of $848.12.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 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 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business 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 a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LLY. Bank of America restated 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. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

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.