Principle Wealth Partners LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Principle Wealth Partners LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,543 shares of the company’s stock after selling 34 shares during the period. Principle Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $5,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Panoramic Capital Partners LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth about $323,000. International Private Wealth Advisors LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth about $957,000. First National Corp MA ADV boosted its position in Eli Lilly and Company by 1.7% during the fourth quarter. First National Corp MA ADV now owns 4,423 shares of the company’s stock worth $3,414,000 after acquiring an additional 73 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in Eli Lilly and Company by 0.8% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 6,191 shares of the company’s stock worth $4,779,000 after acquiring an additional 52 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in Eli Lilly and Company by 218.9% during the fourth quarter. Soltis Investment Advisors LLC now owns 4,005 shares of the company’s stock worth $3,092,000 after acquiring an additional 2,749 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research started 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. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Down 0.4 %

Shares of NYSE:LLY opened at $865.13 on Wednesday. The stock has a market cap of $821.28 billion, a P/E ratio of 73.88, a P/E/G ratio of 1.87 and a beta of 0.42. The firm has a fifty day moving average price of $791.24 and a 200 day moving average price of $843.52. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

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

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign 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. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 44.41%.

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.