Bank of Jackson Hole Trust Invests $1.87 Million in Eli Lilly and Company (NYSE:LLY)

Bank of Jackson Hole Trust purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,418 shares of the company’s stock, valued at approximately $1,867,000. Eli Lilly and Company accounts for about 1.2% of Bank of Jackson Hole Trust’s investment portfolio, making the stock its 17th biggest holding.

A number of other hedge funds also recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position in Eli Lilly and Company by 80.0% in the 4th 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. Kovitz Investment Group Partners LLC raised its position in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LLY. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $866.69 on Thursday. The stock has a 50 day moving average of $797.80 and a 200-day moving average of $845.87. The company has a market capitalization of $822.77 billion, a P/E ratio of 74.01, a P/E/G ratio of 1.35 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. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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 86.26%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

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 paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company announced that its board has initiated a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and 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.