TCV Trust & Wealth Management Inc. Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

TCV Trust & Wealth Management Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 23,998 shares of the company’s stock after buying an additional 236 shares during the period. Eli Lilly and Company makes up approximately 1.7% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 14th biggest holding. TCV Trust & Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $18,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the period. Finally, Compass Financial Services Inc bought a new stake in Eli Lilly and Company during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LLY shares. Barclays cut 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. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Citigroup cut their price objective on 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, Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Up 0.9 %

NYSE LLY opened at $872.98 on Thursday. The stock’s fifty day moving average price is $792.27 and its 200-day moving average price is $843.94. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $828.74 billion, a P/E ratio of 74.55, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

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 the consensus estimate 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%. As a group, equities analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 44.41%.

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

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.