Bellevue Asset Management LLC Has $438,000 Stake in Eli Lilly and Company (NYSE:LLY)

Bellevue Asset Management LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 183.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 567 shares of the company’s stock after acquiring an additional 367 shares during the period. Bellevue Asset Management LLC’s holdings in Eli Lilly and Company were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LLY. United Advisor Group LLC acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $532,000. Pittenger & Anderson Inc. increased its stake in shares of Eli Lilly and Company by 13.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,285 shares of the company’s stock worth $1,138,000 after purchasing an additional 156 shares during the period. Heritage Investors Management Corp increased its stake in shares of Eli Lilly and Company by 13.5% during the third quarter. Heritage Investors Management Corp now owns 1,149 shares of the company’s stock worth $1,018,000 after purchasing an additional 137 shares during the period. Balentine LLC increased its stake in shares of Eli Lilly and Company by 6.7% during the third quarter. Balentine LLC now owns 1,329 shares of the company’s stock worth $1,177,000 after purchasing an additional 84 shares during the period. Finally, Avidian Wealth Enterprises LLC increased its stake in shares of Eli Lilly and Company by 3.9% during the third quarter. Avidian Wealth Enterprises LLC now owns 4,387 shares of the company’s stock worth $3,887,000 after purchasing an additional 163 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial increased 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 research note on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,007.50.

Eli Lilly and Company Stock Up 2.1 %

Shares of LLY opened at $930.12 on Thursday. The company has a market capitalization of $881.91 billion, a PE ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock’s 50-day moving average price is $822.55 and its two-hundred day moving average price is $848.61. 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 (NYSE:LLY) last announced its 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%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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

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.