Eli Lilly and Company (NYSE:LLY) Shares Acquired by Salvus Wealth Management LLC

Salvus Wealth Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 20.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,670 shares of the company’s stock after buying an additional 281 shares during the quarter. Salvus Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC boosted 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 valued at $41,000 after acquiring an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of 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 worth $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 Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on LLY shares. Bank of America reiterated 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. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Truist Financial upped their price objective on 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. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Finally, Barclays decreased their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Down 4.1 %

Eli Lilly and Company stock opened at $726.24 on Friday. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. The firm has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The stock’s fifty day moving average is $783.25 and its two-hundred day moving average is $856.02. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for 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%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. Analysts predict that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management 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. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

About Eli Lilly and Company

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.