Gulf International Bank UK Ltd Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Gulf International Bank UK Ltd lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,182 shares of the company’s stock after selling 695 shares during the period. Eli Lilly and Company comprises about 1.2% of Gulf International Bank UK Ltd’s holdings, making the stock its 11th largest position. Gulf International Bank UK Ltd’s holdings in Eli Lilly and Company were worth $48,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LLY shares. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Truist Financial increased their price objective on shares of 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. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Price Performance

NYSE LLY opened at $915.47 on Thursday. The company has a 50-day moving average price of $808.88 and a two-hundred day moving average price of $848.46. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market cap of $868.02 billion, a price-to-earnings ratio of 78.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 0.66%. 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 dividend payout ratio is currently 51.24%.

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

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.