Eli Lilly and Company (NYSE:LLY) Holdings Lifted by Snider Financial Group

Snider Financial Group raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,878 shares of the company’s stock after buying an additional 184 shares during the quarter. Eli Lilly and Company comprises approximately 2.8% of Snider Financial Group’s holdings, making the stock its 9th largest position. Snider Financial Group’s holdings in Eli Lilly and Company were worth $9,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intact Investment Management Inc. grew its stake in Eli Lilly and Company by 27.7% during the 3rd quarter. Intact Investment Management Inc. now owns 2,580 shares of the company’s stock valued at $2,286,000 after purchasing an additional 560 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of Eli Lilly and Company by 6.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 4,369 shares of the company’s stock worth $3,871,000 after buying an additional 281 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Eli Lilly and Company by 8.1% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,458 shares of the company’s stock worth $1,293,000 after buying an additional 109 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in Eli Lilly and Company by 22.0% in the third quarter. Moloney Securities Asset Management LLC now owns 6,540 shares of the company’s stock valued at $5,794,000 after acquiring an additional 1,178 shares in the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in Eli Lilly and Company by 12.9% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,406 shares of the company’s stock worth $1,246,000 after acquiring an additional 161 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial increased their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Trading Down 2.0 %

Shares of NYSE:LLY opened at $910.92 on Wednesday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. 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 firm has a market cap of $863.70 billion, a P/E ratio of 77.79, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a 50 day moving average of $819.86 and a 200-day moving average of $848.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts anticipate 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 disclosed 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 of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

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

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.