Penn Davis Mcfarland Inc. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Penn Davis Mcfarland Inc. lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,750 shares of the company’s stock after purchasing an additional 485 shares during the quarter. Penn Davis Mcfarland Inc.’s holdings in Eli Lilly and Company were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beck Bode LLC purchased a new stake in Eli Lilly and Company in the second quarter worth approximately $15,036,000. XTX Topco Ltd purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth $546,000. Mill Creek Capital Advisors LLC grew its holdings in shares of Eli Lilly and Company by 8.4% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,498 shares of the company’s stock worth $2,262,000 after acquiring an additional 194 shares during the period. Westwood Wealth Management increased its position in Eli Lilly and Company by 20.1% during the second quarter. Westwood Wealth Management now owns 1,940 shares of the company’s stock valued at $1,756,000 after acquiring an additional 325 shares during the last quarter. Finally, Savoie Capital LLC bought a new position in Eli Lilly and Company in the second quarter valued at about $15,315,000. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Barclays cut 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 report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.2 %

LLY opened at $741.98 on Wednesday. The company has a market capitalization of $704.38 billion, a PE ratio of 80.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The firm has a 50-day simple moving average of $779.00 and a two-hundred day simple moving average of $852.83. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $614.82 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 0.81%. 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 (DPR) is 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually 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.