Mitchell Capital Management Co. Has $8.98 Million Stake in Eli Lilly and Company (NYSE:LLY)

Mitchell Capital Management Co. trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,637 shares of the company’s stock after selling 266 shares during the period. Eli Lilly and Company comprises about 1.6% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 14th largest holding. Mitchell Capital Management Co.’s holdings in Eli Lilly and Company were worth $8,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tower View Wealth Management LLC grew its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Tower View Wealth Management LLC now owns 10,115 shares of the company’s stock valued at $7,809,000 after acquiring an additional 65 shares during the period. Sherman Asset Management Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $4,644,000. John G Ullman & Associates Inc. boosted its position in shares of Eli Lilly and Company by 0.9% during the fourth quarter. John G Ullman & Associates Inc. now owns 2,934 shares of the company’s stock worth $2,265,000 after buying an additional 26 shares during the period. Onefund LLC boosted its position in shares of Eli Lilly and Company by 3.4% during the fourth quarter. Onefund LLC now owns 2,139 shares of the company’s stock worth $1,651,000 after buying an additional 70 shares during the period. Finally, Nixon Peabody Trust Co. boosted its position in shares of Eli Lilly and Company by 345.2% during the fourth quarter. Nixon Peabody Trust Co. now owns 10,479 shares of the company’s stock worth $8,090,000 after buying an additional 8,125 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial upped 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 report on Monday, February 3rd. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $920.44 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $814.88 and its two-hundred day moving average price is $848.69. The firm has a market capitalization of $872.73 billion, a price-to-earnings ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current 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 paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. 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 51.24%.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.