Mengis Capital Management Inc. Has $5.82 Million Position in Eli Lilly and Company (NYSE:LLY)

Mengis Capital Management Inc. reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,533 shares of the company’s stock after selling 26 shares during the period. Eli Lilly and Company comprises about 1.2% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. Mengis Capital Management Inc.’s holdings in Eli Lilly and Company were worth $5,816,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Inscription Capital LLC boosted its position in shares of Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp boosted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Boston Financial Mangement LLC boosted its position in shares of Eli Lilly and Company by 0.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after acquiring an additional 13 shares in the last quarter. Key Financial Inc boosted its position in shares of Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after acquiring an additional 13 shares in the last quarter. Finally, Shoker Investment Counsel Inc. boosted its position in Eli Lilly and Company by 2.0% in the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent analyst reports. Truist Financial boosted their price target 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 report on Monday, February 3rd. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Trading Up 0.9 %

LLY opened at $881.83 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market cap of $836.12 billion, a price-to-earnings ratio of 75.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The firm has a 50 day simple moving average of $803.38 and a 200 day simple moving average of $847.92. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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 85.24% and a net margin of 23.51%. On average, sell-side 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 firm 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is 51.24%.

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