Burns Matteson Capital Management LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Burns Matteson Capital Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 10.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,354 shares of the company’s stock after selling 156 shares during the period. Burns Matteson Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. MFA Wealth Advisors LLC grew its stake in shares of Eli Lilly and Company by 7.0% in the 4th quarter. MFA Wealth Advisors LLC now owns 366 shares of the company’s stock worth $283,000 after buying an additional 24 shares during the last quarter. Canvas Wealth Advisors LLC boosted its stake in Eli Lilly and Company by 6.8% during the 4th quarter. Canvas Wealth Advisors LLC now owns 1,512 shares of the company’s stock valued at $1,167,000 after purchasing an additional 96 shares during the last quarter. Liberty Capital Management Inc. boosted its stake in Eli Lilly and Company by 4.7% during the 4th quarter. Liberty Capital Management Inc. now owns 2,250 shares of the company’s stock valued at $1,737,000 after purchasing an additional 100 shares during the last quarter. LJI Wealth Management LLC boosted its stake in Eli Lilly and Company by 1.8% during the 4th quarter. LJI Wealth Management LLC now owns 7,131 shares of the company’s stock valued at $5,505,000 after purchasing an additional 127 shares during the last quarter. Finally, HTLF Bank boosted its stake in Eli Lilly and Company by 7.3% during the 4th quarter. HTLF Bank now owns 828 shares of the company’s stock valued at $639,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on LLY shares. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Barclays cut 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 note on Thursday, October 31st. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Price Performance

NYSE LLY opened at $868.57 on Tuesday. The company has a market capitalization of $824.55 billion, a PE ratio of 74.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. 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 business’s fifty day moving average is $789.87 and its 200 day moving average is $843.19. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Sell-side analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 44.41%.

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.