Sycomore Asset Management Sells 813 Shares of Eli Lilly and Company (NYSE:LLY)

Sycomore Asset Management reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,238 shares of the company’s stock after selling 813 shares during the period. Eli Lilly and Company makes up about 2.0% of Sycomore Asset Management’s investment portfolio, making the stock its 13th biggest position. Sycomore Asset Management’s holdings in Eli Lilly and Company were worth $15,624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. AMF Tjanstepension AB increased its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after acquiring an additional 176,552 shares during the last quarter. Values Added Financial LLC lifted its holdings in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after purchasing an additional 17 shares in the last quarter. Novare Capital Management LLC grew its position in shares of Eli Lilly and Company by 74.5% in the 3rd quarter. Novare Capital Management LLC now owns 527 shares of the company’s stock valued at $467,000 after purchasing an additional 225 shares during the period. Wedge Capital Management L L P NC increased its stake in Eli Lilly and Company by 3.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after purchasing an additional 29 shares in the last quarter. Finally, Iams Wealth Management LLC raised its holdings in Eli Lilly and Company by 21.8% during the 3rd quarter. Iams Wealth Management LLC now owns 536 shares of the company’s stock worth $475,000 after buying an additional 96 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company cut their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Finally, Citigroup decreased their price objective on 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. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY opened at $865.13 on Wednesday. The firm has a market capitalization of $821.28 billion, a PE ratio of 73.88, a PEG ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company’s 50-day moving average is $791.24 and its 200-day moving average is $843.52. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Equities analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.