Cumberland Partners Ltd Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Cumberland Partners Ltd raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,273 shares of the company’s stock after purchasing an additional 1,289 shares during the period. Eli Lilly and Company accounts for approximately 1.3% of Cumberland Partners Ltd’s holdings, making the stock its 26th biggest position. Cumberland Partners Ltd’s holdings in Eli Lilly and Company were worth $17,967,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB lifted its position 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 valued at $293,964,000 after purchasing an additional 176,552 shares during the last quarter. Values Added Financial LLC raised its position in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. GAM Holding AG lifted its holdings in shares of Eli Lilly and Company by 55.3% in the 3rd quarter. GAM Holding AG now owns 29,978 shares of the company’s stock valued at $26,559,000 after acquiring an additional 10,677 shares during the last quarter. Liberty Capital Management Inc. grew its position in Eli Lilly and Company by 5.7% in the third quarter. Liberty Capital Management Inc. now owns 2,150 shares of the company’s stock worth $1,905,000 after acquiring an additional 115 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its position in Eli Lilly and Company by 10.6% in the third quarter. Global X Japan Co. Ltd. now owns 2,614 shares of the company’s stock worth $2,316,000 after acquiring an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LLY. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target 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. Truist Financial lifted their price objective on shares of 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Barclays lowered their target price on shares of 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 research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Trading Up 0.8 %

LLY opened at $873.77 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock’s fifty day moving average is $799.63 and its two-hundred day moving average is $846.07. The company has a market capitalization of $829.49 billion, a P/E ratio of 74.62, a PEG ratio of 1.37 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

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 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 86.26%. Analysts forecast 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. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase 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.

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.