Pineridge Advisors LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Pineridge Advisors LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,250 shares of the company’s stock after buying an additional 56 shares during the period. Eli Lilly and Company accounts for 0.4% of Pineridge Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Pineridge Advisors LLC’s holdings in Eli Lilly and Company were worth $965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Panoramic Capital Partners LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $323,000. International Private Wealth Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $957,000. First National Corp MA ADV increased its stake in Eli Lilly and Company by 1.7% in the 4th quarter. First National Corp MA ADV now owns 4,423 shares of the company’s stock valued at $3,414,000 after buying an additional 73 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in Eli Lilly and Company by 0.8% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 6,191 shares of the company’s stock valued at $4,779,000 after buying an additional 52 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in Eli Lilly and Company by 218.9% in the 4th quarter. Soltis Investment Advisors LLC now owns 4,005 shares of the company’s stock valued at $3,092,000 after buying an additional 2,749 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.4 %

LLY opened at $865.13 on Wednesday. The company has a 50 day moving average of $791.24 and a 200 day moving average of $843.52. The company has a market cap of $821.28 billion, a PE ratio of 73.88, a price-to-earnings-growth ratio of 1.87 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 company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 86.26%. On average, sell-side analysts expect that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback 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 an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared 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 represents a $6.00 annualized dividend and a yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 44.41%.

Analysts Set New Price Targets

Several equities research analysts have commented on LLY shares. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial raised their price target on shares of 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. Deutsche Bank Aktiengesellschaft decreased 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 note on Monday, November 4th. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.