Eli Lilly and Company (NYSE:LLY) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,149 shares of the company’s stock after buying an additional 463 shares during the period. Pallas Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $13,239,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after acquiring an additional 85,823 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after buying an additional 157,741 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after buying an additional 169,391 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Eli Lilly and Company by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after acquiring an additional 171,595 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $797.17 on Tuesday. The firm’s fifty day simple moving average is $785.91 and its 200-day simple moving average is $858.62. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market cap of $756.77 billion, a PE ratio of 86.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. Analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LLY. Barclays decreased their price objective on shares of 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. Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.