NewEdge Wealth LLC Has $62.07 Million Stake in Eli Lilly and Company (NYSE:LLY)

NewEdge Wealth LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,399 shares of the company’s stock after buying an additional 6,103 shares during the period. Eli Lilly and Company accounts for about 1.1% of NewEdge Wealth LLC’s investment portfolio, making the stock its 14th biggest holding. NewEdge Wealth LLC’s holdings in Eli Lilly and Company were worth $62,068,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after acquiring an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Eli Lilly and Company by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after buying an additional 12,044 shares in the last quarter. Finally, National Pension Service raised its stake in Eli Lilly and Company by 0.6% during the 4th quarter. National Pension Service now owns 1,553,390 shares of the company’s stock worth $1,199,217,000 after buying an additional 8,906 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LLY. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Citigroup cut their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Barclays dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Price Performance

Shares of LLY opened at $915.47 on Thursday. 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 fifty day simple moving average is $808.88 and its 200 day simple moving average is $848.46. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a market cap of $868.02 billion, a price-to-earnings ratio of 78.18, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, research analysts forecast 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 dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.