Meridian Wealth Management LLC Has $7.30 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Meridian Wealth Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 9,457 shares of the company’s stock after purchasing an additional 418 shares during the quarter. Meridian Wealth Management LLC’s holdings in Eli Lilly and Company were worth $7,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its holdings in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 1.7 %

LLY stock opened at $920.44 on Monday. 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 debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $872.73 billion, a price-to-earnings ratio of 78.60, a PEG ratio of 1.40 and a beta of 0.42. The business’s fifty day moving average price is $814.88 and its two-hundred day moving average price is $848.12.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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 return on equity of 85.24% and a net margin of 23.51%. On average, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 51.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company dropped 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 report on Tuesday, January 28th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Finally, Truist Financial boosted their price target 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. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.