Van ECK Associates Corp Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Van ECK Associates Corp raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 273,539 shares of the company’s stock after acquiring an additional 4,070 shares during the period. Van ECK Associates Corp’s holdings in Eli Lilly and Company were worth $211,172,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% during 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 in the last quarter. Hara Capital LLC acquired a new position in shares of Eli Lilly and Company during the third quarter worth about $58,000. Finally, Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial boosted their price objective 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. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Down 0.0 %

NYSE:LLY opened at $872.81 on Friday. The firm has a market capitalization of $828.58 billion, a PE ratio of 74.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The stock has a 50 day moving average of $793.14 and a 200-day moving average of $844.15. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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%. Analysts predict that Eli Lilly and Company will post 23.33 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The firm 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 represents a $6.00 dividend on an annualized basis and a yield of 0.69%. 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. Eli Lilly and Company’s dividend payout ratio is 44.41%.

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.