Fisher Asset Management LLC Has $4.04 Billion Stake in Eli Lilly and Company (NYSE:LLY)

Fisher Asset Management LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,236,108 shares of the company’s stock after purchasing an additional 178,007 shares during the quarter. Eli Lilly and Company comprises approximately 1.6% of Fisher Asset Management LLC’s holdings, making the stock its 13th biggest holding. Fisher Asset Management LLC’s holdings in Eli Lilly and Company were worth $4,042,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Garner Asset Management Corp grew its position in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares in the last quarter. Key Financial Inc lifted its position in shares of Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after acquiring an additional 13 shares during the period. Shoker Investment Counsel Inc. grew its holdings in shares of Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares in the last quarter. Vestia Personal Wealth Advisors increased its position in shares of Eli Lilly and Company by 1.7% in the third quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock worth $680,000 after purchasing an additional 13 shares during the period. Finally, Altrius Capital Management Inc increased its position in shares of Eli Lilly and Company by 1.0% in the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.7 %

Shares of NYSE LLY 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 company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market cap of $872.73 billion, a PE ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a 50 day simple moving average of $814.88 and a 200 day simple moving average of $849.10.

Eli Lilly and Company (NYSE:LLY) last released 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, research 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. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. 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. This represents a $6.00 annualized dividend and a yield of 0.65%. Eli Lilly and Company’s payout ratio is presently 51.24%.

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

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Truist Financial increased their price target 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 report on Monday, February 3rd. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.