Private Client Services LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Private Client Services LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,172 shares of the company’s stock after acquiring an additional 96 shares during the quarter. Private Client Services LLC’s holdings in Eli Lilly and Company were worth $905,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its holdings in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock valued at $5,245,000 after acquiring an additional 724 shares during the last quarter. M&T Bank Corp raised its position in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after purchasing an additional 1,867 shares during the period. Everence Capital Management Inc. lifted its stake in shares of Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after purchasing an additional 690 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Eli Lilly and Company by 13.7% during the 4th quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock worth $887,014,000 after purchasing an additional 138,835 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $899,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.8 %

LLY stock traded up $13.95 during trading on Wednesday, hitting $787.24. 1,831,335 shares of the company’s stock were exchanged, compared to its average volume of 2,617,005. The stock has a market capitalization of $747.34 billion, a price-to-earnings ratio of 85.11, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. 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 business has a 50-day moving average price of $788.56 and a two-hundred day moving average price of $861.70.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities research analysts expect that Eli Lilly and Company will post 13.18 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. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend 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 currently 64.86%.

Eli Lilly and Company declared that its Board of Directors has initiated 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Wolfe Research assumed coverage on 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. 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 for the company in a research note on Monday, November 4th. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four investment 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, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company 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.