Old Port Advisors Has $991,000 Stake in Eli Lilly and Company (NYSE:LLY)

Old Port Advisors grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,283 shares of the company’s stock after acquiring an additional 17 shares during the period. Old Port Advisors’ holdings in Eli Lilly and Company were worth $991,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LLY. M&T Bank Corp increased its holdings in 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 in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $34,328,000. Cumberland Partners Ltd increased its stake in shares of Eli Lilly and Company by 173.4% in the 3rd quarter. Cumberland Partners Ltd now owns 21,984 shares of the company’s stock valued at $19,477,000 after acquiring an additional 13,942 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Eli Lilly and Company by 132.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 40,055 shares of the company’s stock valued at $35,486,000 after acquiring an additional 22,840 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Eli Lilly and Company by 0.3% during the third quarter. Victory Capital Management Inc. now owns 697,335 shares of the company’s stock worth $617,797,000 after acquiring an additional 1,961 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Barclays decreased their price target 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. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Up 0.6 %

NYSE:LLY traded up $4.77 on Thursday, hitting $776.77. The stock had a trading volume of 566,566 shares, compared to its average volume of 3,211,798. Eli Lilly and Company has a 1 year low of $598.80 and a 1 year high of $972.53. The firm’s fifty day simple moving average is $798.30 and its two-hundred day simple moving average is $865.06. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $737.40 billion, a P/E ratio of 83.98, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. Analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.77%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

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.