Eli Lilly and Company (NYSE:LLY) Stake Boosted by Root Financial Partners LLC

Root Financial Partners LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,425 shares of the company’s stock after purchasing an additional 233 shares during the quarter. Root Financial Partners LLC’s holdings in Eli Lilly and Company were worth $1,872,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LLY. AMF Tjanstepension AB lifted its stake in Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares during the last quarter. Values Added Financial LLC lifted its stake in Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Eli Lilly and Company by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock valued at $776,000 after buying an additional 29 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Eli Lilly and Company by 4.8% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 305 shares of the company’s stock valued at $270,000 after buying an additional 14 shares during the last quarter. Finally, SPC Financial Inc. lifted its stake in Eli Lilly and Company by 5.1% in the third quarter. SPC Financial Inc. now owns 532 shares of the company’s stock valued at $471,000 after buying an additional 26 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE LLY opened at $844.82 on Friday. The stock’s 50-day moving average price is $794.07 and its two-hundred day moving average price is $844.34. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $802.01 billion, a PE ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 86.26% and a net margin of 23.51%. On average, analysts predict that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend 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 presently 44.41%.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LLY shares. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut 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 research note on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Barclays cut their price objective 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 note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $997.50.

About Eli Lilly and Company

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.