Hardman Johnston Global Advisors LLC Purchases 9,376 Shares of Eli Lilly and Company (NYSE:LLY)

Hardman Johnston Global Advisors LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 100.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,723 shares of the company’s stock after purchasing an additional 9,376 shares during the quarter. Hardman Johnston Global Advisors LLC’s holdings in Eli Lilly and Company were worth $14,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC raised its stake 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 worth $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake 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 worth $41,000 after purchasing an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. raised its stake 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 worth $45,000 after purchasing an additional 43 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject 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 for the company in a research note on Tuesday, January 28th. Truist Financial boosted their price target 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. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three research 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 an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $874.12 on Monday. The firm has a market cap of $828.82 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average price of $801.33 and a 200-day moving average price of $847.66. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically 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. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

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.