Eli Lilly and Company (NYSE:LLY) Shares Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,785 shares of the company’s stock after acquiring an additional 1,925 shares during the period. Eli Lilly and Company comprises about 1.7% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 12th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Eli Lilly and Company were worth $6,782,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. GraniteShares Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $2,673,000. Lake Street Advisors Group LLC grew its stake in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 11,019 shares of the company’s stock valued at $8,507,000 after acquiring an additional 211 shares in the last quarter. Kirtland Hills Capital Management LLC grew its stake in shares of Eli Lilly and Company by 25.4% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 306 shares of the company’s stock valued at $237,000 after acquiring an additional 62 shares in the last quarter. Daner Wealth Management LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $402,000. Finally, LGL Partners LLC grew its stake in shares of Eli Lilly and Company by 1.1% during the fourth quarter. LGL Partners LLC now owns 2,027 shares of the company’s stock valued at $1,565,000 after acquiring an additional 22 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $902.47 on Wednesday. The firm’s 50 day moving average is $805.87 and its two-hundred day moving average is $847.99. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market capitalization of $855.69 billion, a P/E ratio of 77.07, a PEG ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company declared that its board has initiated a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial increased 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. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Barclays reduced their price target 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. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

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.