Empirical Finance LLC Sells 365 Shares of Eli Lilly and Company (NYSE:LLY)

Empirical Finance LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,175 shares of the company’s stock after selling 365 shares during the period. Eli Lilly and Company accounts for 1.2% of Empirical Finance LLC’s portfolio, making the stock its 13th largest position. Empirical Finance LLC’s holdings in Eli Lilly and Company were worth $20,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $30,000. Highline Wealth Partners LLC boosted its holdings in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. Finally, Hara Capital LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.9 %

Shares of Eli Lilly and Company stock opened at $878.09 on Monday. The stock has a market cap of $833.58 billion, a P/E ratio of 74.99, a P/E/G ratio of 1.87 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The business’s 50 day moving average is $789.87 and its 200-day moving average is $843.31.

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 net margin of 23.51% and a return on equity of 86.26%. Equities research analysts predict that Eli Lilly and Company will post 23.33 earnings per share 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. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Truist Financial raised 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 note on Monday, February 3rd. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Barclays lowered 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. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.