Eli Lilly and Company (NYSE:LLY) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 12.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,140 shares of the company’s stock after acquiring an additional 4,085 shares during the period. Foundations Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $28,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC raised its position in shares of Eli Lilly and Company by 27.9% in the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in Eli Lilly and Company during the second quarter valued at about $323,000. RiverFront Investment Group LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $256,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Eli Lilly and Company in the second quarter worth $565,000. Finally, Clear Rock Advisors LLC purchased a new position in Eli Lilly and Company in the second quarter valued at about $229,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Barclays decreased their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $997.22.

Eli Lilly and Company Price Performance

NYSE LLY opened at $803.01 on Thursday. The stock’s 50-day moving average price is $779.81 and its two-hundred day moving average price is $846.28. 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 company has a market cap of $762.31 billion, a PE ratio of 86.81, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $637.00 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (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 business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 EPS. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized a share 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company 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.