Strata Wealth Advisors LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Strata Wealth Advisors LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 643 shares of the company’s stock after selling 15 shares during the quarter. Strata Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Laidlaw Wealth Management LLC boosted its stake in Eli Lilly and Company by 8.6% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,878 shares of the company’s stock worth $1,450,000 after buying an additional 149 shares during the period. Lyell Wealth Management LP lifted its holdings in shares of Eli Lilly and Company by 2.1% in the 4th quarter. Lyell Wealth Management LP now owns 2,532 shares of the company’s stock worth $1,955,000 after acquiring an additional 51 shares during the last quarter. Joel Adams & Associates Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $926,000. Global Retirement Partners LLC increased its holdings in Eli Lilly and Company by 5.7% in the 4th quarter. Global Retirement Partners LLC now owns 20,058 shares of the company’s stock valued at $15,484,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Semus Wealth Partners LLC raised its position in Eli Lilly and Company by 7.5% in the fourth quarter. Semus Wealth Partners LLC now owns 3,333 shares of the company’s stock valued at $2,573,000 after purchasing an additional 232 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LLY. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company dropped 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. Truist Financial increased their price target on shares of 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. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $866.69 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm’s 50 day moving average is $797.80 and its two-hundred day moving average is $845.87. The firm has a market capitalization of $822.77 billion, a P/E ratio of 74.01, a P/E/G ratio of 1.35 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Eli Lilly and Company

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.