Hartford Investment Management Co. cut its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,708 shares of the company’s stock after selling 942 shares during the period. Eli Lilly and Company makes up 1.2% of Hartford Investment Management Co.’s investment portfolio, making the stock its 12th largest position. Hartford Investment Management Co.’s holdings in Eli Lilly and Company were worth $37,603,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Hara Capital LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $58,000. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LLY has been the subject of several research reports. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial upped 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 report on Monday, February 3rd. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.
Eli Lilly and Company Trading Up 0.9 %
NYSE LLY opened at $872.98 on Thursday. The company has a market capitalization of $828.74 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company’s fifty day moving average price is $792.27 and its two-hundred day moving average price is $843.94.
Eli Lilly and Company (NYSE:LLY – Get Free Report) 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 86.26% and a net margin of 23.51%. As a group, research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.
Eli Lilly and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 44.41%.
Eli Lilly and Company declared that its Board of Directors has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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.
Recommended Stories
- Five stocks we like better than Eli Lilly and Company
- 3 Stocks to Consider Buying in October
- 3 Reasons Micron Stock Is Deeply Undervalued Right Now
- How to Short Nasdaq: An Easy-to-Follow Guide
- Inflation Persists, But So Do Stock Opportunities: Rally On
- 3 Dividend Kings To Consider
- Energy Transfer Fuels the Cloud: A Natural Gas Power Play
Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY – Free Report).
Receive News & Ratings for Eli Lilly and Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eli Lilly and Company and related companies with MarketBeat.com's FREE daily email newsletter.