Ellsworth Advisors LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Ellsworth Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 456.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,202 shares of the company’s stock after buying an additional 1,806 shares during the period. Ellsworth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RoundAngle Advisors LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $1,524,000. Successful Portfolios LLC grew its stake in Eli Lilly and Company by 1.4% during the 4th quarter. Successful Portfolios LLC now owns 1,264 shares of the company’s stock worth $976,000 after buying an additional 17 shares during the last quarter. Mandatum Life Insurance Co Ltd increased its position in Eli Lilly and Company by 13.2% during the fourth quarter. Mandatum Life Insurance Co Ltd now owns 326 shares of the company’s stock worth $252,000 after buying an additional 38 shares during the period. Client 1ST Advisory Group LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $1,217,000. Finally, Grove Bank & Trust boosted its holdings in shares of Eli Lilly and Company by 33.5% in the fourth quarter. Grove Bank & Trust now owns 8,048 shares of the company’s stock valued at $6,213,000 after acquiring an additional 2,019 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $726.24 on Tuesday. The company has a 50-day moving average of $781.14 and a two-hundred day moving average of $854.04. The stock has a market cap of $689.43 billion, a P/E ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month 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.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, research analysts predict that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a stock buyback 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 usually a sign that the company’s management 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. Stockholders 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 dividend yield of 0.83%. The ex-dividend date of this dividend 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 currently 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LLY. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.