Hidden Cove Wealth Management LLC Buys Shares of 276 Eli Lilly and Company (NYSE:LLY)

Hidden Cove Wealth Management LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 276 shares of the company’s stock, valued at approximately $213,000.

Several other large investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its stake in shares of Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares during the last quarter. Values Added Financial LLC increased its stake in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after acquiring an additional 17 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Eli Lilly and Company by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after purchasing an additional 29 shares in the last quarter. PFG Advisors boosted its holdings in Eli Lilly and Company by 1.6% in the third quarter. PFG Advisors now owns 3,417 shares of the company’s stock worth $3,027,000 after purchasing an additional 53 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Eli Lilly and Company by 4.8% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 305 shares of the company’s stock worth $270,000 after purchasing an additional 14 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $872.81 on Friday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $828.58 billion, a PE ratio of 74.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The firm has a 50-day moving average price of $793.14 and a 200 day moving average price of $844.15.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. Research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company 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 is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 44.41%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LLY shares. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays decreased their price target on shares of 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. Finally, Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.