J.W. Cole Advisors Inc. Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

J.W. Cole Advisors Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,848 shares of the company’s stock after buying an additional 300 shares during the period. J.W. Cole Advisors Inc.’s holdings in Eli Lilly and Company were worth $7,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC grew its position in 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 buying an additional 20 shares during the period. Hara Capital LLC purchased a new position in Eli Lilly and Company in the third quarter valued at $58,000. Finally, Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LLY shares. Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Bank of America reissued 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. Finally, Deutsche Bank Aktiengesellschaft cut 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. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Trading Down 3.1 %

Shares of LLY stock opened at $844.82 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company’s 50-day moving average price is $794.44 and its 200-day moving average price is $845.27. The stock has a market cap of $802.01 billion, a price-to-earnings ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, equities analysts predict that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

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

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.