Eli Lilly and Company (NYSE:LLY) Position Raised by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 60.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 34,283 shares of the company’s stock after buying an additional 12,919 shares during the quarter. Eli Lilly and Company accounts for 0.9% of Dana Investment Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Dana Investment Advisors Inc.’s holdings in Eli Lilly and Company were worth $26,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.1 %

LLY stock opened at $930.12 on Thursday. 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. The company has a fifty day simple moving average of $822.55 and a 200 day simple moving average of $848.61. The firm has a market cap of $881.91 billion, a PE ratio of 79.43, a PEG ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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%. Sell-side 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 has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,007.50.

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.