Eli Lilly and Company (NYSE:LLY) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc increased its stake in Eli Lilly and Company (NYSE:LLY) by 19.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,167 shares of the company’s stock after buying an additional 188 shares during the period. Versant Capital Management Inc’s holdings in Eli Lilly and Company were worth $901,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Old Port Advisors raised its stake in Eli Lilly and Company by 1.3% during the fourth quarter. Old Port Advisors now owns 1,283 shares of the company’s stock worth $991,000 after purchasing an additional 17 shares during the period. SK Wealth Management LLC acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth $264,000. Independent Solutions Wealth Management LLC raised its position in shares of Eli Lilly and Company by 6.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 872 shares of the company’s stock worth $773,000 after buying an additional 49 shares during the period. SMART Wealth LLC acquired a new position in Eli Lilly and Company in the third quarter valued at $457,000. Finally, Exome Asset Management LLC grew its position in Eli Lilly and Company by 7.7% during the third quarter. Exome Asset Management LLC now owns 10,447 shares of the company’s stock valued at $9,255,000 after acquiring an additional 747 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $778.07 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 1 year low of $598.80 and a 1 year high of $972.53. The firm’s 50-day simple moving average is $796.03 and its 200-day simple moving average is $864.45. The firm has a market cap of $738.63 billion, a PE ratio of 84.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Equities analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company announced that its board has authorized a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report 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 Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

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.