Verus Capital Partners LLC Sells 29 Shares of Eli Lilly and Company (NYSE:LLY)

Verus Capital Partners LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,847 shares of the company’s stock after selling 29 shares during the quarter. Verus Capital Partners LLC’s holdings in Eli Lilly and Company were worth $1,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares during the period. Key Financial Inc raised its position in shares of Eli Lilly and Company by 1.5% during the third quarter. Key Financial Inc now owns 883 shares of the company’s stock worth $782,000 after purchasing an additional 13 shares during the period. Shoker Investment Counsel Inc. raised its position in shares of Eli Lilly and Company by 2.0% during the third quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock worth $602,000 after purchasing an additional 13 shares during the period. Vestia Personal Wealth Advisors lifted its holdings in shares of 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 purchasing an additional 13 shares in the last quarter. Finally, Altrius Capital Management Inc grew its position in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock valued at $1,138,000 after purchasing an additional 13 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $904.76 on Friday. The company has a market cap of $857.87 billion, a P/E ratio of 77.26, a P/E/G ratio of 1.40 and a beta of 0.42. The firm’s fifty day moving average price is $811.83 and its two-hundred day moving average price is $848.85. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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 analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current 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 repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. 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 0.66%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

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.