Hidden Cove Wealth Management LLC Takes $213,000 Position in Eli Lilly and Company (NYSE:LLY)

Hidden Cove Wealth Management LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 276 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its position in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp grew its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the period. Cooper Financial Group grew its holdings in Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after acquiring an additional 695 shares during the period. Everence Capital Management Inc. grew its holdings in Eli Lilly and Company by 3.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after acquiring an additional 690 shares during the period. Finally, Jacobs & Co. CA grew its holdings in Eli Lilly and Company by 35.2% during the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after acquiring an additional 7,646 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.0 %

Shares of LLY stock opened at $872.81 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 firm’s 50-day moving average is $793.14 and its 200-day moving average is $844.15. The stock has a market cap of $828.58 billion, a price-to-earnings ratio of 74.54, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Sell-side analysts predict that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Eli Lilly and Company announced that its Board of Directors 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on LLY. Citigroup lowered their target price 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 report on Tuesday, January 28th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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 price target for the company. Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Truist Financial boosted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target 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.