OFI Invest Asset Management Makes New $107.87 Million Investment in Eli Lilly and Company (NYSE:LLY)

OFI Invest Asset Management purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 144,687 shares of the company’s stock, valued at approximately $107,869,000. Eli Lilly and Company accounts for 2.5% of OFI Invest Asset Management’s holdings, making the stock its 6th largest position.

Other large investors have also made changes to their positions in the company. Coordinated Financial Services Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $212,000. United Community Bank raised its holdings in Eli Lilly and Company by 11.1% during the 4th quarter. United Community Bank now owns 1,197 shares of the company’s stock worth $924,000 after buying an additional 120 shares during the period. Personal CFO Solutions LLC lifted its stake in Eli Lilly and Company by 20.5% in the fourth quarter. Personal CFO Solutions LLC now owns 3,302 shares of the company’s stock valued at $2,549,000 after buying an additional 562 shares in the last quarter. Barings LLC lifted its stake in Eli Lilly and Company by 251.4% in the fourth quarter. Barings LLC now owns 1,669 shares of the company’s stock valued at $1,288,000 after buying an additional 1,194 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Eli Lilly and Company by 18.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 49,602 shares of the company’s stock valued at $38,293,000 after buying an additional 7,562 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LLY shares. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,007.50.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $868.59 on Friday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market capitalization of $823.57 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The stock’s 50 day moving average price is $826.63 and its two-hundred day moving average price is $847.97. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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%. On average, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. 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 51.24%.

Eli Lilly and Company 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.