Smartleaf Asset Management LLC Buys 1,230 Shares of Eli Lilly and Company (NYSE:LLY)

Smartleaf Asset Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,896 shares of the company’s stock after purchasing an additional 1,230 shares during the period. Eli Lilly and Company makes up approximately 0.7% of Smartleaf Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. Smartleaf Asset Management LLC’s holdings in Eli Lilly and Company were worth $6,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Maia Wealth LLC boosted its stake in Eli Lilly and Company by 4.7% in the fourth quarter. Maia Wealth LLC now owns 2,528 shares of the company’s stock worth $2,043,000 after buying an additional 113 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Eli Lilly and Company by 17.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 192 shares of the company’s stock worth $148,000 after buying an additional 28 shares in the last quarter. Purkiss Capital Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $452,000. Keynote Financial Services LLC boosted its stake in Eli Lilly and Company by 6.2% in the fourth quarter. Keynote Financial Services LLC now owns 1,885 shares of the company’s stock worth $1,455,000 after buying an additional 110 shares in the last quarter. Finally, PCG Asset Management LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $225,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $920.44 on Friday. The stock has a fifty day simple moving average of $814.88 and a two-hundred day simple moving average of $848.69. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $872.73 billion, a price-to-earnings ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month 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 (EPS) 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%. Research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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 issued 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 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,000.28.

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.