Eli Lilly and Company (NYSE:LLY) Stake Lessened by SNS Financial Group LLC

SNS Financial Group LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 599 shares of the company’s stock after selling 21 shares during the quarter. SNS Financial Group LLC’s holdings in Eli Lilly and Company were worth $463,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LLY. Geode Capital Management LLC boosted its holdings in Eli Lilly and Company by 0.5% in the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the period. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Eli Lilly and Company by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after buying an additional 157,741 shares during the period. Fisher Asset Management LLC grew its position in shares of Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Eli Lilly and Company by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock worth $1,731,168,000 after acquiring an additional 12,044 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.8 %

Shares of NYSE:LLY opened at $873.77 on Friday. The company has a 50 day moving average of $799.63 and a 200-day moving average of $846.07. 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 firm has a market cap of $829.49 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.37 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced 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 return on equity of 86.26% and a net margin of 23.51%. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. 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 report on Monday, February 3rd. 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company reduced their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.