Rockline Wealth Management LLC Has $2.39 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Rockline Wealth Management LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,097 shares of the company’s stock after buying an additional 150 shares during the period. Rockline Wealth Management LLC’s holdings in Eli Lilly and Company were worth $2,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Financial Strategies Inc. raised its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after buying an additional 11 shares during the period. Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 shares during the period. Hummer Financial Advisory Services Inc raised its holdings in Eli Lilly and Company by 1.0% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock worth $1,126,000 after buying an additional 12 shares during the period. James Hambro & Partners LLP grew its stake in Eli Lilly and Company by 3.7% during the 3rd quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after acquiring an additional 12 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’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 directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LLY. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Barclays lowered 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 research note on Thursday, October 31st. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 2.1 %

Shares of Eli Lilly and Company stock opened at $843.82 on Thursday. The stock has a market capitalization of $801.05 billion, a P/E ratio of 91.22, a PEG ratio of 1.72 and a beta of 0.42. 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 stock has a 50 day moving average price of $785.46 and a two-hundred day moving average price of $843.28. Eli Lilly and Company has a 12-month low of $691.10 and a 12-month high of $972.53.

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

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 yield of 0.71%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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.