Carmel Capital Partners LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Carmel Capital Partners LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 629 shares of the company’s stock after purchasing an additional 20 shares during the period. Carmel Capital Partners LLC’s holdings in Eli Lilly and Company were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McDonough Capital Management Inc grew its stake in Eli Lilly and Company by 2.5% in the fourth quarter. McDonough Capital Management Inc now owns 626 shares of the company’s stock worth $483,000 after purchasing an additional 15 shares during the period. Inceptionr LLC grew its stake in Eli Lilly and Company by 16.6% in the fourth quarter. Inceptionr LLC now owns 915 shares of the company’s stock worth $706,000 after purchasing an additional 130 shares during the period. Raymond James Financial Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth $1,240,653,000. Promus Capital LLC bought a new stake in Eli Lilly and Company in the fourth quarter worth $307,000. Finally, First Business Financial Services Inc. boosted its holdings in Eli Lilly and Company by 2.1% in the fourth quarter. First Business Financial Services Inc. now owns 6,015 shares of the company’s stock worth $4,644,000 after acquiring an additional 121 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 2.1 %

Shares of NYSE:LLY opened at $930.12 on Thursday. The stock has a market capitalization of $881.91 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock’s 50-day simple moving average is $822.55 and its two-hundred day simple moving average is $848.61. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its 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 return on equity of 85.24% and a net margin of 23.51%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase 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 typically a sign that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.65%. 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. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company boosted their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.50.

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.