Eli Lilly and Company (NYSE:LLY) Shares Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,691 shares of the company’s stock after acquiring an additional 929 shares during the period. Eli Lilly and Company makes up about 1.2% of Portfolio Design Labs LLC’s holdings, making the stock its 16th largest holding. Portfolio Design Labs LLC’s holdings in Eli Lilly and Company were worth $5,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Fishman Jay A Ltd. MI raised its stake in shares of Eli Lilly and Company by 6.8% in the fourth quarter. Fishman Jay A Ltd. MI now owns 4,103 shares of the company’s stock valued at $3,168,000 after acquiring an additional 262 shares in the last quarter. Augustine Asset Management Inc. raised its stake in shares of Eli Lilly and Company by 300.0% in the fourth quarter. Augustine Asset Management Inc. now owns 1,628 shares of the company’s stock valued at $1,257,000 after acquiring an additional 1,221 shares in the last quarter. Quent Capital LLC raised its stake in shares of Eli Lilly and Company by 5.6% in the fourth quarter. Quent Capital LLC now owns 5,439 shares of the company’s stock valued at $4,199,000 after acquiring an additional 288 shares in the last quarter. Towneley Capital Management Inc DE acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $6,314,000. Finally, New Republic Capital LLC increased its holdings in Eli Lilly and Company by 5.8% in the fourth quarter. New Republic Capital LLC now owns 1,248 shares of the company’s stock valued at $964,000 after buying an additional 68 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $872.98 on Thursday. 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 market cap of $828.74 billion, a P/E ratio of 74.55, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a 50-day moving average price of $792.27 and a 200 day moving average price of $843.94.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its board 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 44.41%.

Analyst Ratings Changes

LLY has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Finally, Citigroup dropped their target price on 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $997.50.

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.