Miracle Mile Advisors LLC Has $10.28 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Miracle Mile Advisors LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 89.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,313 shares of the company’s stock after purchasing an additional 6,294 shares during the period. Miracle Mile Advisors LLC’s holdings in Eli Lilly and Company were worth $10,277,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Quilter Plc increased its holdings in shares of Eli Lilly and Company by 9.9% during the second quarter. Quilter Plc now owns 8,888 shares of the company’s stock worth $8,047,000 after buying an additional 800 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Eli Lilly and Company by 16.2% during the second quarter. Brown Brothers Harriman & Co. now owns 18,660 shares of the company’s stock worth $16,894,000 after buying an additional 2,599 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of Eli Lilly and Company during the second quarter worth $12,866,000. Angeles Investment Advisors LLC increased its holdings in shares of Eli Lilly and Company by 61.5% during the second quarter. Angeles Investment Advisors LLC now owns 1,085 shares of the company’s stock worth $982,000 after buying an additional 413 shares in the last quarter. Finally, Black Diamond Financial LLC increased its holdings in shares of Eli Lilly and Company by 41.1% during the second quarter. Black Diamond Financial LLC now owns 1,522 shares of the company’s stock worth $1,378,000 after buying an additional 443 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

LLY stock opened at $797.17 on Tuesday. The stock has a market capitalization of $756.77 billion, a PE ratio of 86.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company’s 50-day moving average is $785.91 and its 200-day moving average is $858.62. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Equities research analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis 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 is 64.86%.

Insider Transactions at Eli Lilly and Company

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Citigroup upped their price target 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. Bank of America reiterated a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

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.