Eli Lilly and Company (NYSE:LLY) Shares Purchased by FCG Investment Co

FCG Investment Co grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,085 shares of the company’s stock after buying an additional 294 shares during the period. Eli Lilly and Company comprises 1.4% of FCG Investment Co’s portfolio, making the stock its 18th largest position. FCG Investment Co’s holdings in Eli Lilly and Company were worth $2,382,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC grew its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp grew its stake in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Cooper Financial Group increased its position in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares during the period. Everence Capital Management Inc. lifted its stake in Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares during the last quarter. Finally, Jacobs & Co. CA boosted its holdings in shares of Eli Lilly and Company by 35.2% during the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock valued at $22,690,000 after acquiring an additional 7,646 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LLY. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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. The trade was 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 the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $784.78 on Friday. The company has a market capitalization of $745.01 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. 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 fifty day moving average of $776.69 and a 200-day moving average of $849.41. Eli Lilly and Company has a one year low of $624.68 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are 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.