Schmidt P J Investment Management Inc. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Schmidt P J Investment Management Inc. raised its position in Eli Lilly and Company (NYSE:LLY) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,488 shares of the company’s stock after buying an additional 345 shares during the quarter. Eli Lilly and Company comprises about 2.6% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 9th largest position. Schmidt P J Investment Management Inc.’s holdings in Eli Lilly and Company were worth $15,045,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LLY. Onyx Bridge Wealth Group LLC boosted its stake in shares of Eli Lilly and Company by 14.1% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 1,027 shares of the company’s stock valued at $792,000 after purchasing an additional 127 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 52.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 7,044 shares of the company’s stock valued at $5,438,000 after purchasing an additional 2,427 shares in the last quarter. Optimist Retirement Group LLC boosted its stake in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Optimist Retirement Group LLC now owns 3,182 shares of the company’s stock valued at $2,457,000 after purchasing an additional 18 shares in the last quarter. LCM Capital Management Inc acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $322,000. Finally, Syntegra Private Wealth Group LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $311,000. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LLY. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Citigroup cut their target price 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 research report on Tuesday, January 28th. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $878.09 on Friday. The company has a fifty day moving average of $788.21 and a 200-day moving average of $843.47. The firm has a market capitalization of $833.59 billion, a P/E ratio of 94.93, a P/E/G ratio of 1.72 and a beta of 0.42. 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 has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 20.48% and a return on equity of 71.08%. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 12.85 EPS 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. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. 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 payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company 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.