Aries Wealth Management Sells 105 Shares of Eli Lilly and Company (NYSE:LLY)

Aries Wealth Management reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,081 shares of the company’s stock after selling 105 shares during the period. Aries Wealth Management’s holdings in Eli Lilly and Company were worth $3,151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SFE Investment Counsel boosted its stake in shares of Eli Lilly and Company by 620.2% in the 4th quarter. SFE Investment Counsel now owns 3,241 shares of the company’s stock worth $2,502,000 after buying an additional 2,791 shares during the last quarter. Hudock Inc. boosted its stake in shares of Eli Lilly and Company by 8.9% in the 4th quarter. Hudock Inc. now owns 3,046 shares of the company’s stock worth $2,352,000 after buying an additional 249 shares during the last quarter. MGB Wealth Management LLC boosted its stake in shares of Eli Lilly and Company by 70.5% in the 4th quarter. MGB Wealth Management LLC now owns 1,947 shares of the company’s stock worth $1,503,000 after buying an additional 805 shares during the last quarter. TFC Financial Management Inc. boosted its stake in shares of Eli Lilly and Company by 52.0% in the 4th quarter. TFC Financial Management Inc. now owns 532 shares of the company’s stock worth $411,000 after buying an additional 182 shares during the last quarter. Finally, Park Capital Management LLC WI purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $329,000. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, 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 research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Down 3.1 %

NYSE:LLY opened at $844.82 on Friday. The company has a market cap of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The stock’s fifty day moving average price is $794.07 and its two-hundred day moving average price is $844.34. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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 expect that Eli Lilly and Company will post 23.33 EPS for the current year.

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 $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Eli Lilly and Company declared that its board has authorized a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board 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.