Eli Lilly and Company (NYSE:LLY) Stake Lowered by QRG Capital Management Inc.

QRG Capital Management Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,851 shares of the company’s stock after selling 2,311 shares during the period. Eli Lilly and Company makes up 0.9% of QRG Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. QRG Capital Management Inc.’s holdings in Eli Lilly and Company were worth $91,753,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in Eli Lilly and Company by 0.3% in the third quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after purchasing an additional 13 shares in the last quarter. Key Financial Inc boosted its holdings in Eli Lilly and Company by 1.5% in the third quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after purchasing an additional 13 shares in the last quarter. Shoker Investment Counsel Inc. boosted its holdings in Eli Lilly and Company by 2.0% in the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares in the last quarter. Finally, Vestia Personal Wealth Advisors boosted its holdings in Eli Lilly and Company by 1.7% in the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after purchasing an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $915.47 on Thursday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $868.02 billion, a PE ratio of 78.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The firm has a 50-day moving average price of $808.88 and a 200 day moving average price of $848.46.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 return on equity of 85.24% and a net margin of 23.51%. Research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company announced that its board has authorized a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company 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.