Fisher Funds Management LTD Invests $8.94 Million in Eli Lilly and Company (NYSE:LLY)

Fisher Funds Management LTD bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,612 shares of the company’s stock, valued at approximately $8,939,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Inscription Capital LLC grew its position in shares of Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after purchasing an additional 12 shares during the last quarter. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the period. Boston Financial Mangement LLC grew its holdings in Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after buying an additional 13 shares in the last quarter. Key Financial Inc increased its position in Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after buying an additional 13 shares during the period. Finally, Shoker Investment Counsel Inc. lifted its holdings in shares of Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $874.12 on Friday. The company’s 50 day moving average price is $801.33 and its two-hundred day moving average price is $847.13. The firm has a market capitalization of $828.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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 paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. 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. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. 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. Truist Financial boosted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective 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. Finally, Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,000.28.

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.