Eli Lilly and Company (NYSE:LLY) Shares Sold by TSP Capital Management Group LLC

TSP Capital Management Group LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 23.7% during the 4th quarter, Holdings Channel reports. The firm owned 14,240 shares of the company’s stock after selling 4,435 shares during the quarter. Eli Lilly and Company comprises about 3.7% of TSP Capital Management Group LLC’s holdings, making the stock its 12th biggest position. TSP Capital Management Group LLC’s holdings in Eli Lilly and Company were worth $10,993,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after acquiring an additional 85,823 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eli Lilly and Company by 2.6% in the 3rd 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 buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC boosted its stake in 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 worth $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in 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 worth $1,731,168,000 after buying an additional 12,044 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $844.82 on Friday. The business’s 50 day moving average is $794.44 and its two-hundred day moving average is $844.60. 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 cap of $802.01 billion, a price-to-earnings ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

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 86.26%. Analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

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.