HM Payson & Co. Has $16.63 Million Stake in Eli Lilly and Company (NYSE:LLY)

HM Payson & Co. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,547 shares of the company’s stock after selling 406 shares during the quarter. HM Payson & Co.’s holdings in Eli Lilly and Company were worth $16,634,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. AMF Tjanstepension AB increased its position in Eli Lilly and Company by 12.4% during the fourth quarter. AMF Tjanstepension AB now owns 372,933 shares of the company’s stock worth $287,942,000 after buying an additional 41,147 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,484,000. Banco Santander S.A. grew its position in shares of Eli Lilly and Company by 6.4% in the fourth quarter. Banco Santander S.A. now owns 79,181 shares of the company’s stock valued at $61,128,000 after purchasing an additional 4,734 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 745,161 shares of the company’s stock valued at $619,841,000 after purchasing an additional 103,168 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $1,820,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 4.8 %

Shares of LLY opened at $868.59 on Friday. The stock has a market cap of $823.57 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a 50-day moving average price of $826.63 and a two-hundred day moving average price of $848.68.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS 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%. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal 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 issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company declared that its board has approved a share 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 buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Citigroup lowered their price target on 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. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,007.50.

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.