Barden Capital Management Inc. Acquires 47 Shares of Eli Lilly and Company (NYSE:LLY)

Barden Capital Management Inc. increased its holdings in Eli Lilly and Company (NYSE:LLY) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,117 shares of the company’s stock after purchasing an additional 47 shares during the quarter. Eli Lilly and Company makes up 2.1% of Barden Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Barden Capital Management Inc.’s holdings in Eli Lilly and Company were worth $2,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC grew its stake in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $514,000. M&T Bank Corp grew its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $834,000. Finally, Cooper Financial Group grew its stake in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,007.50.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $912.73 on Friday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $824.92 and a 200-day moving average price of $849.05. The company has a market cap of $865.43 billion, a PE ratio of 77.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 85.24%. Equities analysts anticipate 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 has authorized a stock repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.