Arkfeld Wealth Strategies L.L.C. Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Arkfeld Wealth Strategies L.L.C. lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 578 shares of the company’s stock after selling 60 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Eli Lilly and Company were worth $461,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Driehaus Capital Management LLC raised its position in shares of Eli Lilly and Company by 94.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock valued at $1,480,000 after buying an additional 793 shares in the last quarter. Algert Global LLC increased its stake in Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Eli Lilly and Company during the second quarter valued at approximately $2,114,000. Wallace Advisory Group LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $321,000. Finally, Regal Investment Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 0.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,323 shares of the company’s stock worth $4,819,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $808.16 on Tuesday. The company has a market cap of $767.20 billion, a PE ratio of 87.37, a P/E/G ratio of 1.59 and a beta of 0.41. The firm’s 50 day moving average price is $776.69 and its 200-day moving average price is $848.19. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52-week low of $637.00 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the business posted $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 0.74%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup upped their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

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.