Diversify Wealth Management LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Diversify Wealth Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 25.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,876 shares of the company’s stock after purchasing an additional 1,193 shares during the period. Diversify Wealth Management LLC’s holdings in Eli Lilly and Company were worth $4,700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. CWA Asset Management Group LLC grew its position in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after acquiring an additional 724 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after purchasing an additional 1,867 shares in the last quarter. Cooper Financial Group increased its position in shares of Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after purchasing an additional 695 shares during the last quarter. Everence Capital Management Inc. raised its holdings in shares of Eli Lilly and Company by 3.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after buying an additional 690 shares in the last quarter. Finally, Jacobs & Co. CA lifted its position in Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after buying an additional 7,646 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on LLY shares. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wolfe Research started 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 target for the company. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $741.98 on Wednesday. Eli Lilly and Company has a 12 month low of $614.82 and a 12 month high of $972.53. The firm has a market capitalization of $704.38 billion, a P/E ratio of 80.21, a P/E/G ratio of 1.52 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business has a fifty day simple moving average of $779.00 and a two-hundred day simple moving average of $852.83.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. 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 dividend payout ratio (DPR) is 56.22%.

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

Eli Lilly and 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.