Mezzasalma Advisors LLC Has $6.20 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Mezzasalma Advisors LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,034 shares of the company’s stock after selling 659 shares during the quarter. Eli Lilly and Company makes up about 2.0% of Mezzasalma Advisors LLC’s holdings, making the stock its 13th biggest position. Mezzasalma Advisors LLC’s holdings in Eli Lilly and Company were worth $6,202,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB raised its stake in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares during the last quarter. Values Added Financial LLC increased its holdings in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after purchasing an additional 17 shares during the period. Brown Miller Wealth Management LLC lifted its stake in shares of Eli Lilly and Company by 36.5% in the third quarter. Brown Miller Wealth Management LLC now owns 445 shares of the company’s stock valued at $394,000 after buying an additional 119 shares during the period. Montis Financial LLC increased its stake in Eli Lilly and Company by 8.5% during the third quarter. Montis Financial LLC now owns 513 shares of the company’s stock valued at $455,000 after acquiring an additional 40 shares during the period. Finally, Mechanics Bank Trust Department raised its holdings in Eli Lilly and Company by 0.6% in the 3rd quarter. Mechanics Bank Trust Department now owns 3,916 shares of the company’s stock valued at $3,469,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.9 %

Shares of NYSE LLY opened at $878.09 on Monday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm’s 50-day simple moving average is $789.87 and its 200 day simple moving average is $843.31. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $833.58 billion, a price-to-earnings ratio of 74.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (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%. On average, research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.68%. 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. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.