McNaughton Wealth Management LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

McNaughton Wealth Management LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 7.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 763 shares of the company’s stock after acquiring an additional 55 shares during the period. McNaughton Wealth Management LLC’s holdings in Eli Lilly and Company were worth $589,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter valued at about $30,000. Highline Wealth Partners LLC boosted its position in 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 purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in Eli Lilly and Company by 53.3% in 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 during the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Wolfe Research initiated 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 objective on the stock. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays reduced their price objective on 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. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup upped their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $742.80 on Wednesday. The firm has a market cap of $705.15 billion, a PE ratio of 80.30, a PEG ratio of 2.99 and a beta of 0.41. The stock has a 50 day moving average of $784.63 and a 200 day moving average of $857.48. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. 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 currently 64.86%.

Eli Lilly and Company announced that its Board of Directors has authorized a stock 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 buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

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.