Harbor Investment Advisory LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Harbor Investment Advisory LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,696 shares of the company’s stock after buying an additional 546 shares during the quarter. Eli Lilly and Company comprises approximately 0.7% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 22nd biggest holding. Harbor Investment Advisory LLC’s holdings in Eli Lilly and Company were worth $8,257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $741.98 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $779.00 and its 200-day simple moving average is $852.83. The company has a market cap of $704.38 billion, a PE ratio of 80.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $614.82 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 12.98 EPS 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. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LLY shares. Barclays cut 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 research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

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.