Eli Lilly and Company (NYSE:LLY) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,162 shares of the company’s stock after selling 27 shares during the period. Convergence Investment Partners LLC’s holdings in Eli Lilly and Company were worth $897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Timber Creek Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 0.7% during the fourth quarter. Timber Creek Capital Management LLC now owns 12,717 shares of the company’s stock worth $9,818,000 after purchasing an additional 85 shares during the period. Allied Investment Advisors LLC raised its position in shares of Eli Lilly and Company by 7.1% during the 4th quarter. Allied Investment Advisors LLC now owns 270 shares of the company’s stock worth $208,000 after purchasing an additional 18 shares during the period. Atlas Legacy Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $590,000. Bank of Jackson Hole Trust acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,867,000. Finally, Klingman & Associates LLC increased its position in Eli Lilly and Company by 4.0% in the fourth quarter. Klingman & Associates LLC now owns 1,725 shares of the company’s stock worth $1,332,000 after buying an additional 66 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Citigroup dropped 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. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Up 1.1 %

Shares of NYSE:LLY opened at $866.69 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market capitalization of $822.77 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 1.35 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. The company has a 50 day moving average price of $797.80 and a 200 day moving average price of $845.87.

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 86.26% and a net margin of 23.51%. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is 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.