Balentine LLC Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Balentine LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,267 shares of the company’s stock after selling 62 shares during the period. Balentine LLC’s holdings in Eli Lilly and Company were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. AMF Tjanstepension AB boosted its holdings in shares of Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares during the period. Values Added Financial LLC boosted its holdings in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after acquiring an additional 17 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Eli Lilly and Company by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after acquiring an additional 29 shares during the period. Prospect Financial Services LLC boosted its stake in Eli Lilly and Company by 22.3% during the third quarter. Prospect Financial Services LLC now owns 1,566 shares of the company’s stock valued at $1,387,000 after buying an additional 286 shares during the period. Finally, Petredis Investment Advisors LLC boosted its stake in Eli Lilly and Company by 0.3% during the third quarter. Petredis Investment Advisors LLC now owns 11,442 shares of the company’s stock valued at $10,137,000 after buying an additional 29 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $872.98 on Thursday. The stock’s 50 day simple moving average is $792.27 and its two-hundred day simple moving average is $843.94. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $828.74 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 1.87 and a beta of 0.42. 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 posted 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 86.26%. As a group, analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LLY shares. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America restated 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. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on 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. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $997.50.

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.