Jacobs & Co. CA Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Jacobs & Co. CA boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,391 shares of the company’s stock after buying an additional 7,646 shares during the quarter. Eli Lilly and Company makes up approximately 2.3% of Jacobs & Co. CA’s investment portfolio, making the stock its 8th largest position. Jacobs & Co. CA’s holdings in Eli Lilly and Company were worth $22,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its stake in shares of Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp grew its stake in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Everence Capital Management Inc. raised its holdings in shares of Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after purchasing an additional 690 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Eli Lilly and Company by 13.7% during the fourth quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock valued at $887,014,000 after purchasing an additional 138,835 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Eli Lilly and Company during the fourth quarter worth about $899,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. 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 started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Up 1.0 %

Shares of LLY stock traded up $7.52 on Friday, hitting $794.74. 1,890,565 shares of the company’s stock traded hands, compared to its average volume of 2,772,079. The stock has a market capitalization of $754.46 billion, a price-to-earnings ratio of 85.92, a P/E/G ratio of 2.99 and a beta of 0.41. The company’s fifty day simple moving average is $786.48 and its 200 day simple moving average is $860.65. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

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

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

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a positive change 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 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

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.