Suncoast Equity Management Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Suncoast Equity Management increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 60.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,779 shares of the company’s stock after purchasing an additional 15,698 shares during the period. Eli Lilly and Company makes up 3.6% of Suncoast Equity Management’s holdings, making the stock its 13th biggest position. Suncoast Equity Management’s holdings in Eli Lilly and Company were worth $32,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prakash Investment Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $1,013,000. Mattern Capital Management LLC grew its holdings in Eli Lilly and Company by 183.2% during the fourth quarter. Mattern Capital Management LLC now owns 807 shares of the company’s stock worth $623,000 after acquiring an additional 522 shares during the period. Forte Capital LLC ADV raised its position in Eli Lilly and Company by 36.7% during the fourth quarter. Forte Capital LLC ADV now owns 2,217 shares of the company’s stock valued at $1,711,000 after acquiring an additional 595 shares in the last quarter. ING Groep NV lifted its holdings in Eli Lilly and Company by 2,395.0% in the fourth quarter. ING Groep NV now owns 107,336 shares of the company’s stock valued at $82,863,000 after acquiring an additional 103,034 shares during the period. Finally, O Brien Greene & Co. Inc boosted its position in Eli Lilly and Company by 8.7% in the 4th quarter. O Brien Greene & Co. Inc now owns 983 shares of the company’s stock worth $759,000 after purchasing an additional 79 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LLY shares. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Barclays reduced their price target on 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. Finally, Wells Fargo & Company dropped their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four investment 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, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Up 0.8 %

Shares of Eli Lilly and Company stock opened at $873.77 on Friday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. 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 stock has a market cap of $829.49 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.39 and a beta of 0.42. The stock’s 50 day simple moving average is $799.63 and its 200-day simple moving average is $846.07.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Eli Lilly and Company will post 23.48 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. 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 is currently 51.24%.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is 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.