Mesirow Financial Investment Management Inc. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Mesirow Financial Investment Management Inc. grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,046 shares of the company’s stock after purchasing an additional 43 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Eli Lilly and Company were worth $12,392,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its holdings in shares of Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $1,240,653,000. Integrated Investment Consultants LLC increased its position in shares of Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after acquiring an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Eli Lilly and Company by 126,531.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after purchasing an additional 678,209 shares during the period. Finally, Mizuho Securities USA LLC grew its position in Eli Lilly and Company by 599.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock worth $381,710,000 after purchasing an additional 369,293 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LLY shares. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research began coverage on shares of 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. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eighteen have assigned 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 $1,007.50.

Eli Lilly and Company Stock Down 1.8 %

Shares of Eli Lilly and Company stock opened at $912.73 on Friday. The business’s fifty day moving average price is $824.92 and its two-hundred day moving average price is $849.05. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $865.43 billion, a P/E ratio of 77.94, a PEG ratio of 1.40 and a beta of 0.42. 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 quarterly 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, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

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

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

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.