DORCHESTER WEALTH MANAGEMENT Co Acquires New Position in Eli Lilly and Company (NYSE:LLY)

DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 294 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently modified their holdings of LLY. Pathway Financial Advisers LLC grew its holdings in shares of Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC grew its holdings in shares of Eli Lilly and Company by 37,140.7% in the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Eli Lilly and Company by 126,531.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after purchasing an additional 678,209 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Eli Lilly and Company by 599.9% in the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock valued at $381,710,000 after purchasing an additional 369,293 shares during the period. Finally, Holocene Advisors LP lifted its position in Eli Lilly and Company by 257.1% in the third quarter. Holocene Advisors LP now owns 437,603 shares of the company’s stock valued at $387,690,000 after buying an additional 315,065 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on LLY. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research report on Friday, January 17th. Barclays decreased their target price 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 report on Thursday, October 31st. Finally, Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE:LLY opened at $874.12 on Friday. The firm’s 50 day moving average price is $801.33 and its 200 day moving average price is $847.13. The stock has a market cap of $828.82 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share 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. Investors of record on Friday, February 14th will be issued a $1.50 dividend. 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 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.