Maple Capital Management Inc. Has $35.82 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Maple Capital Management Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,394 shares of the company’s stock after selling 322 shares during the period. Eli Lilly and Company accounts for 2.6% of Maple Capital Management Inc.’s holdings, making the stock its 12th largest position. Maple Capital Management Inc.’s holdings in Eli Lilly and Company were worth $35,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $12,286,000. Roanoke Asset Management Corp NY grew its holdings in Eli Lilly and Company by 2.7% in the 4th quarter. Roanoke Asset Management Corp NY now owns 12,567 shares of the company’s stock valued at $9,701,000 after buying an additional 330 shares in the last quarter. Illumine Investment Management LLC bought a new position in Eli Lilly and Company during the 4th quarter worth $425,000. Tufton Capital Management lifted its holdings in shares of Eli Lilly and Company by 4.6% during the fourth quarter. Tufton Capital Management now owns 4,789 shares of the company’s stock worth $3,697,000 after buying an additional 212 shares in the last quarter. Finally, Veridan Wealth LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $224,000. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price target on 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. Wells Fargo & Company reduced their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Trading Up 1.7 %

LLY opened at $920.44 on Friday. The company has a market cap of $872.73 billion, a P/E ratio of 78.60, 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. The company’s 50 day moving average is $814.88 and its 200-day moving average is $849.10. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Eli Lilly and Company 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.