Eli Lilly and Company (NYSE:LLY) is J.P. Marvel Investment Advisors LLC’s 3rd Largest Position

J.P. Marvel Investment Advisors LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 0.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 56,003 shares of the company’s stock after selling 20 shares during the period. Eli Lilly and Company accounts for approximately 7.1% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 3rd largest position. J.P. Marvel Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $43,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC raised 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 worth $35,000 after purchasing an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised 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 worth $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the fourth quarter worth about $50,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $844.82 on Monday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a market capitalization of $802.01 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm’s fifty day moving average price is $794.44 and its 200 day moving average price is $844.98.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, research 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 declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.71%. Eli Lilly and Company’s payout ratio is 44.41%.

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

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.