298 Shares in Eli Lilly and Company (NYSE:LLY) Acquired by SK Wealth Management LLC

SK Wealth Management LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 298 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $30,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth about $36,000. Cedar Mountain Advisors LLC grew its holdings in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 1.0 %

NYSE LLY traded down $7.52 on Monday, hitting $775.65. The company’s stock had a trading volume of 1,016,610 shares, compared to its average volume of 3,212,451. The firm has a market cap of $736.34 billion, a P/E ratio of 83.85, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $579.05 and a 52-week high of $972.53. The company’s 50-day simple moving average is $806.31 and its 200 day simple moving average is $867.23. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. 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 0.77%. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped 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 report on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.