Ring Mountain Capital LLC Acquires New Shares in Eli Lilly and Company (NYSE:LLY)

Ring Mountain Capital LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 691 shares of the company’s stock, valued at approximately $533,000.

Several other hedge funds have also recently bought and sold shares of the company. Garner Asset Management Corp increased 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 valued at $411,000 after purchasing an additional 12 shares in the last quarter. Shoker Investment Counsel Inc. increased its position in Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after buying an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors increased its position in Eli Lilly and Company by 1.7% during the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after buying an additional 13 shares in the last quarter. Altrius Capital Management Inc increased its position in Eli Lilly and Company by 1.0% during the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after buying an additional 13 shares in the last quarter. Finally, GSG Advisors LLC increased its position in Eli Lilly and Company by 3.2% during the fourth quarter. GSG Advisors LLC now owns 425 shares of the company’s stock worth $328,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $930.22 on Tuesday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The stock has a market capitalization of $882.01 billion, a P/E ratio of 79.44, a PEG ratio of 1.40 and a beta of 0.42. 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 business’s fifty day moving average price is $817.56 and its 200 day moving average price is $848.11.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results 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 net margin of 23.51% and a return on equity of 85.24%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current 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. 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 a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

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

About Eli Lilly and Company

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.