Atlantic Edge Private Wealth Management LLC Has $917,000 Stake in Eli Lilly and Company (NYSE:LLY)

Atlantic Edge Private Wealth Management LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,188 shares of the company’s stock after selling 56 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Eli Lilly and Company were worth $917,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LLY. AMF Tjanstepension AB increased its holdings in Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the last quarter. Values Added Financial LLC increased its holdings in Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after buying an additional 17 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in Eli Lilly and Company by 3.4% in the third quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after buying an additional 29 shares during the last quarter. Prospect Financial Services LLC increased its holdings in Eli Lilly and Company by 22.3% in the third quarter. Prospect Financial Services LLC now owns 1,566 shares of the company’s stock worth $1,387,000 after buying an additional 286 shares during the last quarter. Finally, Petredis Investment Advisors LLC increased its holdings in Eli Lilly and Company by 0.3% in the third quarter. Petredis Investment Advisors LLC now owns 11,442 shares of the company’s stock worth $10,137,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LLY shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company decreased their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $872.98 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a fifty day moving average price of $792.27 and a two-hundred day moving average price of $843.94. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The firm has a market capitalization of $828.74 billion, a P/E ratio of 74.55, a P/E/G ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. As a group, analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

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.