Eli Lilly and Company (NYSE:LLY) is Bar Harbor Wealth Management’s 4th Largest Position

Bar Harbor Wealth Management lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,948 shares of the company’s stock after selling 340 shares during the period. Eli Lilly and Company makes up about 3.9% of Bar Harbor Wealth Management’s portfolio, making the stock its 4th biggest position. Bar Harbor Wealth Management’s holdings in Eli Lilly and Company were worth $59,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Beaird Harris Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after buying an additional 11 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the last quarter. Prio Wealth Limited Partnership increased its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after purchasing an additional 11 shares during the period. O Brien Greene & Co. Inc raised its stake in shares of Eli Lilly and Company by 1.3% in the second quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after purchasing an additional 12 shares during the last quarter. Finally, Tcwp LLC lifted its holdings in shares of Eli Lilly and Company by 2.3% during the second quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were 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 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 accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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. Finally, Citigroup lifted their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Down 0.3 %

Shares of LLY stock opened at $797.17 on Tuesday. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53. 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 stock’s fifty day moving average is $785.91 and its two-hundred day moving average is $858.62. The firm has a market capitalization of $756.77 billion, a P/E ratio of 86.18, a PEG ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Research analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 64.86%.

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.