Eli Lilly and Company (NYSE:LLY) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,340 shares of the company’s stock after buying an additional 690 shares during the period. Eli Lilly and Company accounts for about 1.1% of Everence Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Everence Capital Management Inc.’s holdings in Eli Lilly and Company were worth $17,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Modus Advisors LLC raised its position in shares of Eli Lilly and Company by 67.0% in the fourth quarter. Modus Advisors LLC now owns 800 shares of the company’s stock valued at $618,000 after buying an additional 321 shares during the last quarter. Versant Capital Management Inc grew its stake in Eli Lilly and Company by 19.2% during the 4th quarter. Versant Capital Management Inc now owns 1,167 shares of the company’s stock valued at $901,000 after acquiring an additional 188 shares in the last quarter. Old Port Advisors grew its stake in Eli Lilly and Company by 1.3% during the 4th quarter. Old Port Advisors now owns 1,283 shares of the company’s stock valued at $991,000 after acquiring an additional 17 shares in the last quarter. SK Wealth Management LLC acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at about $264,000. Finally, Independent Solutions Wealth Management LLC lifted its stake in Eli Lilly and Company by 6.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 872 shares of the company’s stock worth $773,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LLY shares. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays reduced 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 report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Up 0.2 %

Shares of NYSE LLY traded up $1.44 during mid-day trading on Friday, reaching $779.51. The company had a trading volume of 531,116 shares, compared to its average volume of 1,196,408. Eli Lilly and Company has a 52-week low of $609.59 and a 52-week high of $972.53. The stock has a market cap of $740.00 billion, a P/E ratio of 84.27, a PEG ratio of 2.99 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a 50 day simple moving average of $796.03 and a two-hundred day simple moving average of $864.45.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid 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 0.77%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is 64.86%.

Eli Lilly and Company announced that its board has authorized a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.