Apriem Advisors Has $577,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Apriem Advisors trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 748 shares of the company’s stock after selling 15 shares during the period. Apriem Advisors’ holdings in Eli Lilly and Company were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. boosted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 1.5 %

NYSE:LLY opened at $915.47 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s 50-day simple moving average is $808.88 and its 200-day simple moving average is $848.46. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The stock has a market capitalization of $868.02 billion, a PE ratio of 78.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 85.24%. Sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. 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 is 51.24%.

Eli Lilly and Company announced that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Truist Financial boosted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Barclays dropped 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 note on Thursday, October 31st. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price target on 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. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.