Mattern Capital Management LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

Mattern Capital Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 183.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 807 shares of the company’s stock after buying an additional 522 shares during the quarter. Mattern Capital Management LLC’s holdings in Eli Lilly and Company were worth $623,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter worth approximately $30,000. Highline Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $50,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.8 %

NYSE LLY opened at $873.77 on Friday. The company’s fifty day simple moving average is $799.63 and its 200-day simple moving average is $846.07. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $829.49 billion, a P/E ratio of 74.62, a PEG ratio of 1.37 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 86.26% and a net margin of 23.51%. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal 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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

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

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Barclays decreased their target price on shares of 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.