Blue Chip Partners LLC Has $12.02 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Blue Chip Partners LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,568 shares of the company’s stock after buying an additional 287 shares during the quarter. Blue Chip Partners LLC’s holdings in Eli Lilly and Company were worth $12,019,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LLY. CIBC Asset Management Inc lifted its position in shares of Eli Lilly and Company by 4.0% in the fourth quarter. CIBC Asset Management Inc now owns 214,362 shares of the company’s stock valued at $165,487,000 after buying an additional 8,312 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of Eli Lilly and Company by 4.6% in the fourth quarter. Highview Capital Management LLC DE now owns 7,071 shares of the company’s stock valued at $5,459,000 after buying an additional 308 shares during the last quarter. Mathes Company Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $432,000. Woodard & Co. Asset Management Group Inc. ADV lifted its position in shares of Eli Lilly and Company by 6.0% in the fourth quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,211 shares of the company’s stock valued at $1,707,000 after buying an additional 126 shares during the last quarter. Finally, Advanced Asset Management Advisors Inc lifted its position in shares of Eli Lilly and Company by 35.5% in the fourth quarter. Advanced Asset Management Advisors Inc now owns 485 shares of the company’s stock valued at $374,000 after buying an additional 127 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 1.6 %

LLY opened at $857.38 on Wednesday. The stock has a market cap of $813.93 billion, a PE ratio of 73.22, a P/E/G ratio of 1.87 and a beta of 0.42. 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 $711.40 and a 52 week high of $972.53. The business’s fifty day simple moving average is $795.28 and its 200 day simple moving average is $845.36.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. 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 note on Monday, November 4th. Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.