Cable Hill Partners LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Cable Hill Partners LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 21.8% in the fourth quarter, HoldingsChannel reports. The firm owned 10,076 shares of the company’s stock after selling 2,812 shares during the quarter. Eli Lilly and Company makes up about 0.8% of Cable Hill Partners LLC’s investment portfolio, making the stock its 15th biggest position. Cable Hill Partners LLC’s holdings in Eli Lilly and Company were worth $7,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Heritage Investors Management Corp lifted its stake in Eli Lilly and Company by 13.0% in the fourth quarter. Heritage Investors Management Corp now owns 1,298 shares of the company’s stock worth $1,002,000 after acquiring an additional 149 shares during the last quarter. SRN Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $838,000. Whipplewood Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth $272,000. NewEdge Wealth LLC grew its stake in shares of Eli Lilly and Company by 8.2% during the fourth quarter. NewEdge Wealth LLC now owns 80,399 shares of the company’s stock worth $62,068,000 after purchasing an additional 6,103 shares in the last quarter. Finally, LifeGoal Wealth Advisors purchased a new position in Eli Lilly and Company in the fourth quarter valued at $217,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $915.47 on Thursday. The firm has a market cap of $868.02 billion, a P/E ratio of 78.18, a P/E/G ratio of 1.40 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 business’s 50-day moving average price is $808.88 and its 200 day moving average price is $848.46. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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 85.24%. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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 paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 51.24%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. 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 restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

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.