Keynote Financial Services LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Keynote Financial Services LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,885 shares of the company’s stock after acquiring an additional 110 shares during the period. Eli Lilly and Company comprises approximately 1.1% of Keynote Financial Services LLC’s portfolio, making the stock its 22nd largest position. Keynote Financial Services LLC’s holdings in Eli Lilly and Company were worth $1,455,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. PCG Asset Management LLC bought a new stake in Eli Lilly and Company in the fourth quarter worth $225,000. Tower View Wealth Management LLC boosted its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. Tower View Wealth Management LLC now owns 10,115 shares of the company’s stock valued at $7,809,000 after acquiring an additional 65 shares in the last quarter. Sherman Asset Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $4,644,000. John G Ullman & Associates Inc. lifted its stake in shares of Eli Lilly and Company by 0.9% in the 4th quarter. John G Ullman & Associates Inc. now owns 2,934 shares of the company’s stock valued at $2,265,000 after purchasing an additional 26 shares during the period. Finally, Onefund LLC boosted its holdings in shares of Eli Lilly and Company by 3.4% during the 4th quarter. Onefund LLC now owns 2,139 shares of the company’s stock valued at $1,651,000 after buying an additional 70 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 1.7 %

Shares of Eli Lilly and Company stock opened at $920.44 on Friday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The stock has a market cap of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The stock’s 50 day simple moving average is $814.88 and its 200-day simple moving average is $848.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

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 net margin of 23.51% and a return on equity of 85.24%. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized 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 buy up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. 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. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LLY shares. Truist Financial increased their target price on 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. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research initiated 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 price target on the stock. Wells Fargo & Company cut their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Citigroup lowered their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

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.