Accurate Wealth Management LLC Increases Stake in Eli Lilly and Company (NYSE:LLY)

Accurate Wealth Management LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,180 shares of the company’s stock after acquiring an additional 114 shares during the period. Accurate Wealth Management LLC’s holdings in Eli Lilly and Company were worth $3,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CWA Asset Management Group LLC raised its position in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after buying an additional 724 shares during the last quarter. M&T Bank Corp raised its holdings in shares of 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 valued at $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Everence Capital Management Inc. lifted 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 valued at $17,246,000 after purchasing an additional 690 shares during the period. Cooper Financial Group boosted its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after purchasing an additional 695 shares during the last quarter. Finally, Jacobs & Co. CA grew its position in Eli Lilly and Company by 35.2% in the 4th quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after purchasing an additional 7,646 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

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

Eli Lilly and Company Trading Up 0.2 %

Eli Lilly and Company stock opened at $746.42 on Thursday. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. The firm’s 50 day moving average price is $784.63 and its 200-day moving average price is $857.48. 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 stock has a market cap of $708.59 billion, a P/E ratio of 80.69, a PEG ratio of 2.99 and a beta of 0.41.

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

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.80%. 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%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. 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 on the stock in a report on Monday, November 4th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to 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 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.