Amalgamated Bank Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Amalgamated Bank lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 166,374 shares of the company’s stock after selling 8,886 shares during the quarter. Eli Lilly and Company accounts for 1.1% of Amalgamated Bank’s holdings, making the stock its 12th biggest holding. Amalgamated Bank’s holdings in Eli Lilly and Company were worth $128,441,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LLY. FourThought Financial Partners LLC bought a new position in Eli Lilly and Company in the 4th quarter valued at $1,774,000. Twin Peaks Wealth Advisors LLC grew its holdings in shares of Eli Lilly and Company by 6.4% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 782 shares of the company’s stock worth $604,000 after purchasing an additional 47 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in Eli Lilly and Company in the 4th quarter worth about $264,000. Fairhaven Wealth Management LLC lifted its holdings in Eli Lilly and Company by 15.0% during the 4th quarter. Fairhaven Wealth Management LLC now owns 684 shares of the company’s stock valued at $528,000 after buying an additional 89 shares in the last quarter. Finally, Sierra Capital LLC boosted its position in Eli Lilly and Company by 30.8% in the 4th quarter. Sierra Capital LLC now owns 323 shares of the company’s stock valued at $249,000 after buying an additional 76 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LLY shares. Wells Fargo & Company reduced their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Stock Performance

LLY opened at $881.83 on Tuesday. The company has a market cap of $836.12 billion, a P/E ratio of 75.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. 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’s 50-day moving average price is $803.38 and its 200-day moving average price is $847.92. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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 85.24%. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

Eli Lilly and Company announced that its board has approved a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.