Buckingham Capital Management Inc. Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Buckingham Capital Management Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,123 shares of the company’s stock after selling 2,093 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Eli Lilly and Company were worth $4,727,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC boosted its stake 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 buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake 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 buying an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $857.38 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business has a 50 day simple moving average of $796.41 and a 200-day simple moving average of $845.73. The firm has a market capitalization of $813.93 billion, a PE ratio of 73.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 net margin of 23.51% and a return on equity of 86.26%. Equities research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share 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. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Eli Lilly and Company announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $997.50.

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.