Eli Lilly and Company (NYSE:LLY) Shares Purchased by Tower View Wealth Management LLC

Tower View Wealth Management LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,115 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Eli Lilly and Company accounts for approximately 4.1% of Tower View Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Tower View Wealth Management LLC’s holdings in Eli Lilly and Company were worth $7,809,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Sherman Asset Management Inc. acquired a new position in Eli Lilly and Company during the 4th quarter valued at $4,644,000. John G Ullman & Associates Inc. raised its stake in shares of Eli Lilly and Company by 0.9% in the 4th quarter. John G Ullman & Associates Inc. now owns 2,934 shares of the company’s stock valued at $2,265,000 after buying an additional 26 shares in the last quarter. Onefund LLC raised its stake in shares of Eli Lilly and Company by 3.4% in the 4th quarter. Onefund LLC now owns 2,139 shares of the company’s stock valued at $1,651,000 after buying an additional 70 shares in the last quarter. Nixon Peabody Trust Co. raised its stake in shares of Eli Lilly and Company by 345.2% in the 4th quarter. Nixon Peabody Trust Co. now owns 10,479 shares of the company’s stock valued at $8,090,000 after buying an additional 8,125 shares in the last quarter. Finally, Prudent Man Advisors LLC raised its stake in shares of Eli Lilly and Company by 117.0% in the 4th quarter. Prudent Man Advisors LLC now owns 677 shares of the company’s stock valued at $523,000 after buying an additional 365 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. 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 for the company in a research note on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Stock Up 1.7 %

Shares of NYSE:LLY opened at $920.44 on Friday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company’s 50-day moving average price is $814.88 and its two-hundred day moving average price is $848.69. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market cap of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced 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 represents a $6.00 annualized dividend and a dividend yield of 0.65%. 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 dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.