Eli Lilly and Company (NYSE:LLY) Shares Acquired by FCG Investment Co

FCG Investment Co boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,085 shares of the company’s stock after purchasing an additional 294 shares during the quarter. Eli Lilly and Company makes up 1.4% of FCG Investment Co’s portfolio, making the stock its 18th biggest holding. FCG Investment Co’s holdings in Eli Lilly and Company were worth $2,382,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at $30,000. Highline Wealth Partners LLC boosted 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 last quarter. Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LLY shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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 price objective for the company. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Stock Up 2.4 %

NYSE LLY opened at $784.78 on Friday. The stock has a market cap of $745.01 billion, a PE ratio of 84.84, a P/E/G ratio of 1.59 and a beta of 0.41. The business has a 50 day moving average price of $776.69 and a two-hundred day moving average price of $849.41. Eli Lilly and Company has a fifty-two week low of $624.68 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 analyst estimates of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s payout ratio is 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

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.