Eli Lilly and Company (NYSE:LLY) Shares Bought by Flaharty Asset Management LLC

Flaharty Asset Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 33.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,494 shares of the company’s stock after acquiring an additional 378 shares during the quarter. Flaharty Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,154,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LLY. Proficio Capital Partners LLC increased its stake in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Eli Lilly and Company by 126,531.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after purchasing an additional 678,209 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Eli Lilly and Company by 599.9% in the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after purchasing an additional 369,293 shares during the last quarter. Finally, Holocene Advisors LP increased its stake in Eli Lilly and Company by 257.1% in the third quarter. Holocene Advisors LP now owns 437,603 shares of the company’s stock valued at $387,690,000 after purchasing an additional 315,065 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 1.7 %

NYSE:LLY opened at $920.44 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The business’s 50-day simple moving average is $814.88 and its 200 day simple moving average is $849.10. The stock has a market cap of $872.73 billion, a price-to-earnings ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 85.24% and a net margin of 23.51%. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 dividend yield of 0.65%. 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 is presently 51.24%.

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

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

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.