Sheets Smith Wealth Management Has $10.75 Million Stake in Eli Lilly and Company (NYSE:LLY)

Sheets Smith Wealth Management boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,923 shares of the company’s stock after acquiring an additional 858 shares during the quarter. Eli Lilly and Company accounts for approximately 1.3% of Sheets Smith Wealth Management’s portfolio, making the stock its 15th largest position. Sheets Smith Wealth Management’s holdings in Eli Lilly and Company were worth $10,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capstone Wealth Management LLC acquired a new position in Eli Lilly and Company in the fourth quarter valued at about $248,000. Bourgeon Capital Management LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $1,080,000. Aspire Private Capital LLC raised its position in shares of Eli Lilly and Company by 22.4% in the 4th quarter. Aspire Private Capital LLC now owns 2,140 shares of the company’s stock valued at $1,652,000 after acquiring an additional 392 shares during the period. Octavia Wealth Advisors LLC boosted its stake in Eli Lilly and Company by 25.0% during the 4th quarter. Octavia Wealth Advisors LLC now owns 735 shares of the company’s stock worth $568,000 after acquiring an additional 147 shares during the last quarter. Finally, Commons Capital LLC grew its holdings in Eli Lilly and Company by 14.0% during the fourth quarter. Commons Capital LLC now owns 408 shares of the company’s stock valued at $315,000 after purchasing an additional 50 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LLY shares. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup increased 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 report on Friday, October 25th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $766.00 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 stock has a 50 day moving average price of $776.31 and a 200 day moving average price of $850.93. The stock has a market capitalization of $727.18 billion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $624.68 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Analysts predict that Eli Lilly and Company will post 12.98 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. 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 0.78%. 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 56.22%.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase 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 shares are undervalued.

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.