Eli Lilly and Company (NYSE:LLY) Shares Purchased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. increased its position in Eli Lilly and Company (NYSE:LLY) by 28.1% in the fourth quarter, HoldingsChannel reports. The firm owned 8,785 shares of the company’s stock after acquiring an additional 1,925 shares during the period. Eli Lilly and Company accounts for about 1.7% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 12th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Eli Lilly and Company were worth $6,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inscription Capital LLC boosted its stake in Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares during the period. Boston Financial Mangement LLC boosted its stake in Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after purchasing an additional 13 shares during the period. Key Financial Inc boosted its stake in Eli Lilly and Company by 1.5% in the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after purchasing an additional 13 shares during the period. Finally, Shoker Investment Counsel Inc. boosted its stake in Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Citigroup decreased their target price on shares of 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. Wells Fargo & Company decreased their target price on shares of 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, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Up 2.4 %

LLY stock opened at $902.47 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company has a fifty day simple moving average of $805.87 and a 200 day simple moving average of $847.99. The firm has a market cap of $855.69 billion, a PE ratio of 77.07, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.