Palacios Wealth Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Palacios Wealth Management LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 667 shares of the company’s stock, valued at approximately $500,000.

Several other large investors also recently added to or reduced their stakes in LLY. Root Financial Partners LLC raised its position in shares of Eli Lilly and Company by 10.6% during the 4th quarter. Root Financial Partners LLC now owns 2,425 shares of the company’s stock valued at $1,872,000 after buying an additional 233 shares during the period. Values Added Financial LLC increased its holdings in Eli Lilly and Company by 165.6% in the 4th quarter. Values Added Financial LLC now owns 972 shares of the company’s stock valued at $750,000 after purchasing an additional 606 shares during the last quarter. Vontobel Holding Ltd. raised its position in Eli Lilly and Company by 10.7% in the fourth quarter. Vontobel Holding Ltd. now owns 95,427 shares of the company’s stock valued at $73,670,000 after purchasing an additional 9,253 shares during the period. Bogart Wealth LLC lifted its stake in Eli Lilly and Company by 21.7% during the fourth quarter. Bogart Wealth LLC now owns 432 shares of the company’s stock worth $334,000 after purchasing an additional 77 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in shares of Eli Lilly and Company by 1.8% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,931 shares of the company’s stock worth $3,807,000 after buying an additional 89 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on LLY shares. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial raised their target price 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. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Down 3.1 %

LLY opened at $844.82 on Friday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a market cap of $802.01 billion, a price-to-earnings ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42. The business’s fifty day moving average is $794.07 and its two-hundred day moving average is $844.34. 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 Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 44.41%.

Eli Lilly and 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.