Golden State Equity Partners Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Golden State Equity Partners increased its position in Eli Lilly and Company (NYSE:LLY) by 2,514.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,484 shares of the company’s stock after acquiring an additional 2,389 shares during the quarter. Golden State Equity Partners’ holdings in Eli Lilly and Company were worth $1,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LLY. CWA Asset Management Group LLC boosted its position in shares of Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares in the last quarter. M&T Bank Corp raised its stake in Eli Lilly and Company by 0.7% in the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Cooper Financial Group raised its stake in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after acquiring an additional 695 shares during the last quarter. Everence Capital Management Inc. raised its stake in Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after acquiring an additional 690 shares during the last quarter. Finally, Jacobs & Co. CA raised its stake in Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after acquiring an additional 7,646 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.0 %

LLY stock opened at $811.47 on Tuesday. The firm has a market cap of $770.35 billion, a PE ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. 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 firm’s 50 day moving average price is $783.56 and its 200-day moving average price is $843.75. Eli Lilly and Company has a one year low of $682.53 and a one year high of $972.53.

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

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date 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 presently 56.22%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LLY shares. StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Barclays cut their price target on 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. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.