Convergence Financial LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Convergence Financial LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 3,652 shares of the company’s stock after buying an additional 56 shares during the period. Convergence Financial LLC’s holdings in Eli Lilly and Company were worth $2,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. Garner Asset Management Corp boosted 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 purchasing an additional 12 shares during the period. Boston Financial Mangement LLC boosted its holdings in Eli Lilly and Company by 0.3% in 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. Key Financial Inc boosted its holdings in Eli Lilly and Company by 1.5% in the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after buying an additional 13 shares during the period. Shoker Investment Counsel Inc. grew its stake in Eli Lilly and Company by 2.0% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after buying an additional 13 shares in the last quarter. Finally, Vestia Personal Wealth Advisors raised its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Up 1.5 %

Shares of NYSE:LLY opened at $915.47 on Thursday. The firm has a fifty day moving average of $808.88 and a 200 day moving average of $848.46. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market capitalization of $868.02 billion, a PE ratio of 78.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given 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 yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.