Strategic Wealth Investment Group LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

Strategic Wealth Investment Group LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 46.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,253 shares of the company’s stock after buying an additional 400 shares during the period. Strategic Wealth Investment Group LLC’s holdings in Eli Lilly and Company were worth $967,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Cyr Financial Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $564,000. Mediolanum International Funds Ltd boosted its holdings in shares of Eli Lilly and Company by 8.5% in the fourth quarter. Mediolanum International Funds Ltd now owns 125,769 shares of the company’s stock valued at $97,086,000 after acquiring an additional 9,892 shares in the last quarter. Sivik Global Healthcare LLC increased its stake in shares of Eli Lilly and Company by 3.4% during the fourth quarter. Sivik Global Healthcare LLC now owns 15,000 shares of the company’s stock worth $11,580,000 after acquiring an additional 500 shares during the period. Crews Bank & Trust purchased a new position in Eli Lilly and Company during the fourth quarter worth about $4,667,000. Finally, First Affirmative Financial Network lifted its position in Eli Lilly and Company by 5.5% in the fourth quarter. First Affirmative Financial Network now owns 1,584 shares of the company’s stock valued at $1,223,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.4 %

Shares of LLY stock opened at $811.61 on Friday. The company has a market capitalization of $770.47 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. 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 firm has a 50-day moving average price of $783.56 and a 200 day moving average price of $844.86. Eli Lilly and Company has a twelve month low of $637.00 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share 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 firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date 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 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s payout ratio is 64.86%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LLY shares. Barclays cut 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 note on Thursday, October 31st. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Citigroup lowered their price target on shares of 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, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

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.