Boston Common Asset Management LLC Has $18.55 Million Position in Eli Lilly and Company (NYSE:LLY)

Boston Common Asset Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 29.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,028 shares of the company’s stock after purchasing an additional 5,465 shares during the quarter. Boston Common Asset Management LLC’s holdings in Eli Lilly and Company were worth $18,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Relyea Zuckerberg Hanson LLC lifted its holdings in Eli Lilly and Company by 11.9% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,033 shares of the company’s stock worth $2,342,000 after purchasing an additional 323 shares during the last quarter. CNB Bank lifted its holdings in shares of Eli Lilly and Company by 10.1% during the fourth quarter. CNB Bank now owns 1,255 shares of the company’s stock worth $969,000 after buying an additional 115 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $2,316,000. Procyon Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. Procyon Advisors LLC now owns 3,942 shares of the company’s stock worth $3,043,000 after buying an additional 419 shares during the last quarter. Finally, Everpar Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 0.6% during the fourth quarter. Everpar Advisors LLC now owns 2,680 shares of the company’s stock worth $2,069,000 after buying an additional 17 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $726.24 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a fifty day moving average price of $781.14 and a two-hundred day moving average price of $854.71. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The firm has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid 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 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LLY. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.