MONECO Advisors LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

MONECO Advisors LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,100 shares of the company’s stock after purchasing an additional 863 shares during the quarter. MONECO Advisors LLC’s holdings in Eli Lilly and Company were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Citigroup lowered their price objective 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. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $874.12 on Friday. The firm has a fifty day simple moving average of $801.33 and a 200-day simple moving average of $847.13. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The stock has a market capitalization of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors 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.