Everence Capital Management Inc. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Everence Capital Management Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,340 shares of the company’s stock after purchasing an additional 690 shares during the period. Eli Lilly and Company accounts for about 1.1% of Everence Capital Management Inc.’s holdings, making the stock its 15th biggest position. Everence Capital Management Inc.’s holdings in Eli Lilly and Company were worth $17,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $34,328,000. Cumberland Partners Ltd boosted its position in Eli Lilly and Company by 173.4% during the third quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock worth $19,477,000 after acquiring an additional 13,942 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in Eli Lilly and Company by 132.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock worth $35,486,000 after acquiring an additional 22,840 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Eli Lilly and Company by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 697,335 shares of the company’s stock valued at $617,797,000 after acquiring an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LLY. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Up 0.2 %

Shares of LLY stock traded up $1.44 on Friday, hitting $779.51. The stock had a trading volume of 531,116 shares, compared to its average volume of 1,196,408. Eli Lilly and Company has a 52-week low of $609.59 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization of $740.00 billion, a price-to-earnings ratio of 84.27, a P/E/G ratio of 2.99 and a beta of 0.41. The stock’s 50 day moving average is $796.03 and its 200-day moving average is $864.45.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared 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 a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

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

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.