Eli Lilly and Company (NYSE:LLY) Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its position in Eli Lilly and Company (NYSE:LLY) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 524,212 shares of the company’s stock after purchasing an additional 18,313 shares during the quarter. Eli Lilly and Company makes up 2.3% of Candriam S.C.A.’s portfolio, making the stock its 6th biggest position. Candriam S.C.A.’s holdings in Eli Lilly and Company were worth $404,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Advisor Group LLC acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $532,000. Pittenger & Anderson Inc. grew its position in shares of Eli Lilly and Company by 13.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,285 shares of the company’s stock worth $1,138,000 after buying an additional 156 shares during the period. Heritage Investors Management Corp grew its position in shares of Eli Lilly and Company by 13.5% during the 3rd quarter. Heritage Investors Management Corp now owns 1,149 shares of the company’s stock worth $1,018,000 after buying an additional 137 shares during the period. Balentine LLC grew its position in shares of Eli Lilly and Company by 6.7% during the 3rd quarter. Balentine LLC now owns 1,329 shares of the company’s stock worth $1,177,000 after buying an additional 84 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in shares of Eli Lilly and Company by 3.9% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 4,387 shares of the company’s stock worth $3,887,000 after buying an additional 163 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 2.1 %

Shares of LLY stock opened at $930.12 on Thursday. The stock has a market cap of $881.91 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42. The stock has a 50-day moving average of $822.55 and a 200-day moving average of $848.61. 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.

Eli Lilly and Company (NYSE:LLY) last announced 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 return on equity of 85.24% and a net margin of 23.51%. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

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.