Lake Street Private Wealth LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Lake Street Private Wealth LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 3.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,054 shares of the company’s stock after selling 229 shares during the period. Lake Street Private Wealth LLC’s holdings in Eli Lilly and Company were worth $4,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Beaird Harris Wealth Management LLC raised its position in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares in the last quarter. Summit Financial Strategies Inc. grew its stake in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares in the last quarter. Tcwp LLC lifted its position in Eli Lilly and Company by 2.3% during the second quarter. Tcwp LLC now owns 524 shares of the company’s stock valued at $474,000 after buying an additional 12 shares during the period. Finally, First Community Trust NA boosted its holdings in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock valued at $228,000 after buying an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE LLY opened at $726.24 on Friday. 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 business’s fifty day moving average is $781.14 and its 200 day moving average is $854.71. The company has a market capitalization of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company 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 dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. 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 0.83%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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 value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.