Candriam S.C.A. Purchases 18,313 Shares of Eli Lilly and Company (NYSE:LLY)

Candriam S.C.A. increased its position in Eli Lilly and Company (NYSE:LLY) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 524,212 shares of the company’s stock after buying an additional 18,313 shares during the period. Eli Lilly and Company accounts for 2.3% of Candriam S.C.A.’s portfolio, making the stock its 6th largest holding. Candriam S.C.A. owned 0.06% of Eli Lilly and Company worth $404,692,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC grew its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Hara Capital LLC acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

Shares of NYSE LLY opened at $930.12 on Thursday. The stock has a market cap of $881.91 billion, a PE ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42. The business has a fifty day moving average of $822.55 and a two-hundred day moving average of $848.61. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last announced 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%. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm 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 is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wolfe Research initiated 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 for the company. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,007.50.

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.