Ingalls & Snyder LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Ingalls & Snyder LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,872 shares of the company’s stock after selling 130 shares during the quarter. Ingalls & Snyder LLC’s holdings in Eli Lilly and Company were worth $5,305,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Hara Capital LLC purchased a new position in Eli Lilly and Company in the third quarter valued at $58,000. Finally, Compass Financial Services Inc purchased a new position in Eli Lilly and Company in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $872.81 on Friday. 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 company has a market cap of $828.58 billion, a P/E ratio of 74.54, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a 50-day moving average price of $793.14 and a 200 day moving average price of $844.15.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 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%. Research analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given 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 dividend payout ratio (DPR) is presently 44.41%.

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

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial raised 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. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Wells Fargo & Company dropped 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. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.