LCM Capital Management Inc Invests $322,000 in Eli Lilly and Company (NYSE:LLY)

LCM Capital Management Inc acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 417 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds have also modified their holdings of LLY. Syntegra Private Wealth Group LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $311,000. Tectonic Advisors LLC boosted its position in Eli Lilly and Company by 16.4% during the fourth quarter. Tectonic Advisors LLC now owns 3,890 shares of the company’s stock worth $3,003,000 after acquiring an additional 548 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in Eli Lilly and Company by 23.4% during the fourth quarter. Confluence Wealth Services Inc. now owns 8,794 shares of the company’s stock worth $6,741,000 after acquiring an additional 1,665 shares during the last quarter. Country Club Bank boosted its position in Eli Lilly and Company by 27.1% during the fourth quarter. Country Club Bank now owns 3,378 shares of the company’s stock worth $2,614,000 after acquiring an additional 720 shares during the last quarter. Finally, Berkshire Money Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $302,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LLY. Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $870.56 on Friday. Eli Lilly and Company has a 12-month low of $707.02 and a 12-month high of $972.53. The company has a market capitalization of $826.44 billion, a price-to-earnings ratio of 94.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. 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 firm’s fifty day moving average price is $786.57 and its 200 day moving average price is $843.28.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. On average, research analysts forecast that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has authorized 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.