ABC Arbitrage SA Takes $269,000 Position in Eli Lilly and Company (NYSE:LLY)

ABC Arbitrage SA acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 349 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds have also recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $50,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Price Performance

LLY stock opened at $844.82 on Friday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. 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 fifty day simple moving average of $794.44 and a two-hundred day simple moving average of $844.60. The firm has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released 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%. Analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date 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 dividend payout ratio (DPR) is 44.41%.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are 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.