Alta Capital Management LLC Purchases 14 Shares of Eli Lilly and Company (NYSE:LLY)

Alta Capital Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,014 shares of the company’s stock after acquiring an additional 14 shares during the quarter. Alta Capital Management LLC’s holdings in Eli Lilly and Company were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after buying an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Eli Lilly and Company by 3.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock valued at $4,042,276,000 after buying an additional 178,007 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Eli Lilly and Company by 100,387.1% during 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 buying an additional 5,197,038 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,035,084 shares of the company’s stock valued at $3,887,085,000 after buying an additional 199,864 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.0 %

NYSE:LLY opened at $930.22 on Tuesday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a market cap of $882.01 billion, a price-to-earnings ratio of 79.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The stock has a fifty day simple moving average of $817.56 and a 200-day simple moving average of $848.11. 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 released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.