SVB Wealth LLC Invests $12.29 Million in Eli Lilly and Company (NYSE:LLY)

SVB Wealth LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,914 shares of the company’s stock, valued at approximately $12,286,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after buying an additional 5,197,038 shares during the last quarter. Fisher Asset Management LLC increased its position in Eli Lilly and Company by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Eli Lilly and Company by 0.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after buying an additional 12,044 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

LLY opened at $920.44 on Friday. The firm has a fifty day moving average price of $814.88 and a 200 day moving average price of $849.10. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock has a market cap of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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.