Janney Montgomery Scott LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Janney Montgomery Scott LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 297,377 shares of the company’s stock after buying an additional 15,337 shares during the quarter. Eli Lilly and Company comprises approximately 0.6% of Janney Montgomery Scott LLC’s portfolio, making the stock its 27th largest position. Janney Montgomery Scott LLC’s holdings in Eli Lilly and Company were worth $229,576,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC raised its position in shares of Eli Lilly and Company by 3.6% during the 4th quarter. GoalVest Advisory LLC now owns 1,213 shares of the company’s stock valued at $936,000 after buying an additional 42 shares during the period. Baker Ellis Asset Management LLC raised its position in Eli Lilly and Company by 7.5% in the fourth quarter. Baker Ellis Asset Management LLC now owns 430 shares of the company’s stock valued at $332,000 after purchasing an additional 30 shares during the period. Phillips Wealth Planners LLC raised its position in Eli Lilly and Company by 11.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 302 shares of the company’s stock valued at $242,000 after purchasing an additional 32 shares during the period. Kelleher Financial Advisors raised its position in Eli Lilly and Company by 29.2% in the fourth quarter. Kelleher Financial Advisors now owns 473 shares of the company’s stock valued at $365,000 after purchasing an additional 107 shares during the period. Finally, Marino Stram & Associates LLC raised its position in Eli Lilly and Company by 0.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,856 shares of the company’s stock valued at $2,205,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $784.78 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a fifty day moving average price of $775.91 and a 200 day moving average price of $850.34. The company has a market cap of $745.01 billion, a P/E ratio of 84.84, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $624.68 and a 12 month 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LLY. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, 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. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.