Tevis Investment Management Increases Stake in Eli Lilly and Company (NYSE:LLY)

Tevis Investment Management boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 62.8% during the 4th quarter, Holdings Channel reports. The firm owned 1,506 shares of the company’s stock after acquiring an additional 581 shares during the quarter. Tevis Investment Management’s holdings in Eli Lilly and Company were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. CWA Asset Management Group LLC boosted its position in Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares in the last quarter. M&T Bank Corp raised its stake in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the period. Cooper Financial Group lifted its position in shares of Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after buying an additional 695 shares in the last quarter. Everence Capital Management Inc. grew its stake in Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after acquiring an additional 690 shares during the period. Finally, Jacobs & Co. CA increased its holdings in Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after acquiring an additional 7,646 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $868.57 on Tuesday. 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 stock has a fifty day moving average price of $789.87 and a 200 day moving average price of $843.19. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a market cap of $824.55 billion, a PE ratio of 74.17, a P/E/G ratio of 1.87 and a beta of 0.42.

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

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have issued reports on LLY. Deutsche Bank Aktiengesellschaft decreased their price objective 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 report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Truist Financial boosted 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. Finally, Barclays decreased 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 note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.