321 Shares in Eli Lilly and Company (NYSE:LLY) Purchased by Capstone Wealth Management LLC

Capstone Wealth Management LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, Holdings Channel reports. The fund purchased 321 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC bought a new position in Eli Lilly and Company in the third quarter worth about $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on 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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 1.6 %

Eli Lilly and Company stock opened at $766.00 on Friday. 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 firm has a market cap of $727.18 billion, a price-to-earnings ratio of 82.81, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The firm’s 50 day moving average price is $776.31 and its two-hundred day moving average price is $850.93.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (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 business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LLY. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.