Meyer Handelman Co. Buys 14 Shares of Eli Lilly and Company (NYSE:LLY)

Meyer Handelman Co. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,030 shares of the company’s stock after buying an additional 14 shares during the period. Meyer Handelman Co.’s holdings in Eli Lilly and Company were worth $22,411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. Founders Grove Wealth Partners LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $17,257,000. Clarus Wealth Advisors lifted its stake in Eli Lilly and Company by 61.5% in the 4th quarter. Clarus Wealth Advisors now owns 1,184 shares of the company’s stock worth $944,000 after purchasing an additional 451 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Eli Lilly and Company by 5.9% in the 4th quarter. Acropolis Investment Management LLC now owns 1,765 shares of the company’s stock valued at $1,363,000 after purchasing an additional 99 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Eli Lilly and Company by 25.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,085 shares of the company’s stock valued at $10,104,000 after purchasing an additional 2,642 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Eli Lilly and Company by 14.1% in the fourth quarter. Park Avenue Securities LLC now owns 19,274 shares of the company’s stock worth $14,880,000 after purchasing an additional 2,381 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.2 %

NYSE:LLY opened at $746.42 on Thursday. The firm has a market capitalization of $708.59 billion, a P/E ratio of 80.69, a P/E/G ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $612.70 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average of $784.63 and a 200 day moving average of $857.48.

Eli Lilly and Company (NYSE:LLY) last posted 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 during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change 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 0.80%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LLY shares. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Barclays decreased 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 report on Thursday, October 31st. Finally, Citigroup upped their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Activity at Eli Lilly and Company

In other 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 directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

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.