Thurston Springer Miller Herd & Titak Inc. Has $10.10 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,085 shares of the company’s stock after purchasing an additional 2,642 shares during the period. Eli Lilly and Company accounts for about 2.0% of Thurston Springer Miller Herd & Titak Inc.’s portfolio, making the stock its 6th biggest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Eli Lilly and Company were worth $10,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Bradley Foster & Sargent Inc. CT raised its position in Eli Lilly and Company by 2.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,181 shares of the company’s stock worth $18,272,000 after purchasing an additional 558 shares during the period. E Fund Management Co. Ltd. raised its holdings in shares of Eli Lilly and Company by 0.9% in the second quarter. E Fund Management Co. Ltd. now owns 5,211 shares of the company’s stock worth $4,718,000 after buying an additional 46 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Eli Lilly and Company by 0.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 694,060 shares of the company’s stock worth $628,388,000 after acquiring an additional 2,681 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Eli Lilly and Company by 5.7% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,527 shares of the company’s stock valued at $24,017,000 after acquiring an additional 1,427 shares during the period. Finally, Tredje AP fonden grew its position in Eli Lilly and Company by 4.6% in the 2nd quarter. Tredje AP fonden now owns 229,293 shares of the company’s stock valued at $207,597,000 after acquiring an additional 10,000 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LLY. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective 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 research report on Monday, November 4th. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 0.2 %

NYSE LLY opened at $746.42 on Thursday. Eli Lilly and Company has a 52 week low of $612.70 and a 52 week high of $972.53. The company has a 50 day moving average price of $784.63 and a 200 day moving average price of $857.48. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $708.59 billion, a PE ratio of 80.69, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.80%. Eli Lilly and Company’s payout ratio is presently 64.86%.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

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.