Yousif Capital Management LLC has reduced its position in Eli Lilly and Company (NYSE: LLY) by 0.8% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now holds 80,504 shares of the pharmaceutical giant after selling 687 shares during the quarter. This stake represents approximately 0.7% of Yousif Capital Management’s overall portfolio, making Eli Lilly its 14th largest investment, valued at about $61,425,000.
Several other institutional investors have also adjusted their holdings in Eli Lilly recently. Wealth Preservation Advisors LLC purchased a new stake worth $27,000 in the first quarter, while Sumitomo Mitsui Financial Group Inc. and Evolution Wealth Management Inc. each acquired new positions valued at $27,000 and $29,000 respectively in the second quarter. Additionally, Steph & Co. increased its holdings by 290% during the third quarter, resulting in ownership of 39 shares, now valued at $30,000 after acquiring an additional 29 shares. Financial Gravity Companies Inc. also entered a new stake in the second quarter totaling approximately $31,000. Institutional investors collectively hold 82.53% of Eli Lilly’s stock.
Market Performance and Dividends
As of Thursday, Eli Lilly’s stock opened at $1,077.06. The company has experienced significant fluctuations over the past year, with a fifty-two week low of $623.78 and a high of $1,111.99. Eli Lilly’s financial ratios reflect a debt-to-equity ratio of 1.71, a current ratio of 1.55, and a quick ratio of 1.24. The firm’s fifty-day moving average price stands at $976.10, while the two-hundred-day moving average price is $837.36. With a market capitalization exceeding $1.02 trillion, Eli Lilly boasts a price-to-earnings (P/E) ratio of 52.69 and a P/E/G ratio of 1.08.
Recently, the company announced an increase in its quarterly dividend, which will be paid on March 10, 2024. Shareholders of record on February 13, 2024 will receive a dividend of $1.73 per share, up from the previous quarterly dividend of $1.50. This change results in an annualized dividend of $6.92 and a yield of 0.6%. Eli Lilly’s current dividend payout ratio is 29.35%.
Analyst Ratings and Future Outlook
Recent analyst evaluations on Eli Lilly demonstrate strong support for the stock. On October 14, 2023, Erste Group Bank upgraded its rating from “hold” to “buy.” Morgan Stanley raised its price target from $1,171.00 to $1,290.00, assigning an “overweight” rating in a report released on November 24, 2023. Loop Capital has set a price objective at $950.00, while National Bankshares has a target of $1,286.00. Wolfe Research increased its target from $1,050.00 to $1,250.00, also rating the stock as “outperform.”
Currently, four equity research analysts have rated Eli Lilly with a “Strong Buy,” seventeen have given it a “Buy,” and five have assigned a “Hold” rating. MarketBeat.com indicates an average rating of “Moderate Buy” with an average price target of $1,155.36.
Eli Lilly and Company, founded in 1876 and headquartered in Indianapolis, Indiana, is a global leader in pharmaceuticals, focusing on the research, development, manufacturing, and commercialization of various medications and therapies for patients worldwide. The firm operates across North America, Europe, Asia, and other regions, serving both developed and emerging markets under the leadership of President and Chief Executive Officer David A.
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