Eli Lilly and Company (NYSE:LLY) is Grassi Investment Management’s 5th Largest Position

Grassi Investment Management boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 79,512 shares of the company’s stock after purchasing an additional 225 shares during the period. Eli Lilly and Company makes up 5.2% of Grassi Investment Management’s investment portfolio, making the stock its 5th largest holding. Grassi Investment Management’s holdings in Eli Lilly and Company were worth $61,383,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $0.06 during mid-day trading on Monday, reaching $799.96. The stock had a trading volume of 2,384,900 shares, compared to its average volume of 2,992,725. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The firm has a market cap of $759.41 billion, a PE ratio of 86.48, a P/E/G ratio of 2.99 and a beta of 0.41. The firm’s 50 day simple moving average is $786.08 and its 200 day simple moving average is $859.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted 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 business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Truist Financial increased 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Citigroup raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, 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. Four investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.