Abacus Planning Group Inc. Has $1.86 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Abacus Planning Group Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,409 shares of the company’s stock after buying an additional 43 shares during the period. Abacus Planning Group Inc.’s holdings in Eli Lilly and Company were worth $1,860,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Inscription Capital LLC grew its holdings in Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp grew its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares during the period. Detalus Advisors LLC increased its position in Eli Lilly and Company by 1.7% in the 3rd quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock valued at $707,000 after buying an additional 13 shares in the last quarter. PSI Advisors LLC increased its position in Eli Lilly and Company by 0.4% in the 3rd quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock valued at $2,576,000 after buying an additional 13 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its stake in Eli Lilly and Company by 0.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after buying 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 0.8 %

LLY stock opened at $873.77 on Friday. The stock has a market cap of $829.49 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.37 and a beta of 0.42. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $799.63 and its two-hundred day simple moving average is $846.07. 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 quarterly 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 86.26% and a net margin of 23.51%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is an increase 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 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LLY shares. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Barclays decreased their price target 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.