Alpha Omega Wealth Management LLC Sells 75 Shares of Eli Lilly and Company (NYSE:LLY)

Alpha Omega Wealth Management LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,776 shares of the company’s stock after selling 75 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,371,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Bank of America restated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $811.61 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $770.48 billion, a price-to-earnings ratio of 87.74, a P/E/G ratio of 1.71 and a beta of 0.41. The firm has a fifty day moving average price of $783.56 and a 200 day moving average price of $844.18. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53.

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 shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed 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. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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.