Independent Solutions Wealth Management LLC Has $773,000 Position in Eli Lilly and Company (NYSE:LLY)

Independent Solutions Wealth Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 6.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 872 shares of the company’s stock after acquiring an additional 49 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Eli Lilly and Company were worth $773,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in Eli Lilly and Company by 53.3% in 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 during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of research reports. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Truist Financial increased their price objective on shares of 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. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. JPMorgan Chase & Co. upped their target price on 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. Finally, Barclays lowered 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 note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Trading Down 1.0 %

LLY stock traded down $7.35 during mid-day trading on Thursday, reaching $757.36. 1,899,515 shares of the stock traded hands, compared to its average volume of 3,204,158. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market cap of $718.97 billion, a P/E ratio of 81.88, a P/E/G ratio of 3.02 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $567.02 and a 52-week high of $972.53. The stock’s fifty day moving average is $825.29 and its 200-day moving average is $870.21.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

Eli Lilly and Company declared that its board has authorized a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are 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.