Asahi Life Asset Management CO. LTD. Has $916,000 Position in Eli Lilly and Company (NYSE:LLY)

Asahi Life Asset Management CO. LTD. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 42.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,186 shares of the company’s stock after selling 870 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Eli Lilly and Company were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Values Added Financial LLC grew its stake in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after acquiring an additional 17 shares in the last quarter. Pursue Wealth Partners LLC acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $364,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Eli Lilly and Company by 2.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 16,339 shares of the company’s stock worth $14,475,000 after purchasing an additional 325 shares during the period. Lebenthal Global Advisors LLC lifted its position in Eli Lilly and Company by 12.6% during the third quarter. Lebenthal Global Advisors LLC now owns 2,177 shares of the company’s stock worth $1,929,000 after purchasing an additional 243 shares during the period. Finally, Interchange Capital Partners LLC grew its stake in Eli Lilly and Company by 2.2% during the third quarter. Interchange Capital Partners LLC now owns 1,061 shares of the company’s stock worth $940,000 after buying an additional 23 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Three equities 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $920.44 on Friday. The firm’s 50-day moving average price is $814.88 and its 200-day moving average price is $848.69. The firm has a market capitalization 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 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 has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company declared that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

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.