Tower Bridge Advisors Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Tower Bridge Advisors lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,814 shares of the company’s stock after selling 1,335 shares during the period. Tower Bridge Advisors’ holdings in Eli Lilly and Company were worth $6,032,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Garner Asset Management Corp raised its stake in shares of 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 during the period. Key Financial Inc raised its holdings in Eli Lilly and Company by 1.5% in the third quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after acquiring an additional 13 shares in the last quarter. Shoker Investment Counsel Inc. boosted its stake in Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after acquiring an additional 13 shares during the last quarter. Vestia Personal Wealth Advisors boosted its stake in Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after acquiring an additional 13 shares during the last quarter. Finally, Altrius Capital Management Inc grew its holdings in Eli Lilly and Company by 1.0% during the 3rd quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $920.44 on Friday. The firm’s 50 day moving average is $814.88 and its two-hundred day moving average is $849.10. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a PEG ratio of 1.40 and a beta of 0.42. 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 (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 85.24%. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a share buyback plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid 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 0.65%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LLY shares. Bank of America restated 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. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial increased their price target 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 report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Wells Fargo & Company reduced their price target 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 report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.