Journey Strategic Wealth LLC Has $2.32 Million Position in Eli Lilly and Company (NYSE:LLY)

Journey Strategic Wealth LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,010 shares of the company’s stock after buying an additional 92 shares during the period. Journey Strategic Wealth LLC’s holdings in Eli Lilly and Company were worth $2,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC increased its stake in shares of Eli Lilly and Company by 11.9% during 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 during the last quarter. M&T Bank Corp increased its position in Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after buying an additional 1,867 shares during the last quarter. Cooper Financial Group increased its position in Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after buying an additional 695 shares during the last quarter. Everence Capital Management Inc. increased its position in Eli Lilly and Company by 3.2% during the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock worth $17,246,000 after buying an additional 690 shares during the last quarter. Finally, Jacobs & Co. CA increased its holdings in shares of Eli Lilly and Company by 35.2% during 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. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $811.47 on Tuesday. Eli Lilly and Company has a 1 year low of $682.53 and a 1 year high of $972.53. The stock has a market capitalization of $770.35 billion, a price-to-earnings ratio of 87.73, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company’s 50 day simple moving average is $783.56 and its 200 day simple moving average is $843.75.

Eli Lilly and Company announced that its board has authorized a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued 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 target price on the stock. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.