Eli Lilly and Company (NYSE:LLY) Position Lifted by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,147 shares of the company’s stock after purchasing an additional 782 shares during the period. Eli Lilly and Company accounts for approximately 3.1% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 8th largest position. Blodgett Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $3,973,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the third quarter valued at about $30,000. Highline Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $58,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $827.41 on Wednesday. The firm has a 50 day moving average of $784.69 and a 200 day moving average of $843.49. 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 capitalization of $785.48 billion, a price-to-earnings ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $682.53 and a 52 week high of $972.53.

Eli Lilly and Company announced that its board has approved a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LLY shares. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective 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 report on Monday, November 4th. Barclays reduced 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. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

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.