Financial Enhancement Group LLC Has $1.70 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Financial Enhancement Group LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 14.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,128 shares of the company’s stock after buying an additional 266 shares during the quarter. Financial Enhancement Group LLC’s holdings in Eli Lilly and Company were worth $1,697,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Smith Thornton Advisors LLC grew its position in Eli Lilly and Company by 73.0% in the 4th quarter. Smith Thornton Advisors LLC now owns 794 shares of the company’s stock worth $613,000 after purchasing an additional 335 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Eli Lilly and Company by 108.6% in the fourth quarter. Carolina Wealth Advisors LLC now owns 290 shares of the company’s stock valued at $224,000 after buying an additional 151 shares during the period. Outlook Wealth Advisors LLC grew its position in Eli Lilly and Company by 12.7% during the fourth quarter. Outlook Wealth Advisors LLC now owns 345 shares of the company’s stock worth $266,000 after buying an additional 39 shares in the last quarter. ERn Financial LLC increased its stake in Eli Lilly and Company by 1.8% during the fourth quarter. ERn Financial LLC now owns 1,526 shares of the company’s stock valued at $1,178,000 after acquiring an additional 27 shares during the period. Finally, BluePath Capital Management LLC raised its holdings in Eli Lilly and Company by 171.9% in the 4th quarter. BluePath Capital Management LLC now owns 1,580 shares of the company’s stock valued at $1,260,000 after acquiring an additional 999 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on LLY shares. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial upped their target price 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. Finally, Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Stock Up 1.6 %

Shares of NYSE LLY opened at $758.70 on Friday. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The firm’s 50-day simple moving average is $784.03 and its 200 day simple moving average is $856.70. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $720.25 billion, a price-to-earnings ratio of 82.02, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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 0.79%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 56.22%.

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.