United Community Bank Purchases 120 Shares of Eli Lilly and Company (NYSE:LLY)

United Community Bank lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,197 shares of the company’s stock after acquiring an additional 120 shares during the quarter. United Community Bank’s holdings in Eli Lilly and Company were worth $924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC grew its stake in shares of Eli Lilly and Company by 11.9% during the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after acquiring an additional 724 shares during the period. Centerpoint Advisory Group bought a new position in Eli Lilly and Company in the 4th quarter worth about $514,000. M&T Bank Corp boosted its stake in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the period. Kentucky Trust Co bought a new position in Eli Lilly and Company in the 4th quarter worth about $834,000. Finally, Cooper Financial Group boosted its stake in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $868.59 on Friday. The firm has a market cap of $823.57 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The business’s 50 day moving average price is $826.63 and its 200-day moving average price is $847.97. 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 (NYSE:LLY) last released its quarterly earnings results 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%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s payout ratio is currently 51.24%.

Analyst Ratings Changes

Several research analysts have commented on the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Truist Financial raised their target price on 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 Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, Bank of America reiterated a “buy” rating and set a $997.00 price target 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 given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.50.

Eli Lilly and 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.