Chemistry Wealth Management LLC Has $567,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

Chemistry Wealth Management LLC lessened its position in Eli Lilly and Company (NYSE:LLY) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 734 shares of the company’s stock after selling 87 shares during the period. Chemistry Wealth Management LLC’s holdings in Eli Lilly and Company were worth $567,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC grew its stake in Eli Lilly and Company by 29.4% in the fourth quarter. Boston Common Asset Management LLC now owns 24,028 shares of the company’s stock valued at $18,550,000 after acquiring an additional 5,465 shares during the period. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 3,033 shares of the company’s stock valued at $2,342,000 after purchasing an additional 323 shares in the last quarter. CNB Bank lifted its holdings in shares of Eli Lilly and Company by 10.1% in the fourth quarter. CNB Bank now owns 1,255 shares of the company’s stock valued at $969,000 after purchasing an additional 115 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $2,316,000. Finally, Procyon Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 11.9% in the fourth quarter. Procyon Advisors LLC now owns 3,942 shares of the company’s stock valued at $3,043,000 after purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Down 4.1 %

Shares of LLY stock opened at $726.24 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business has a 50-day moving average price of $781.14 and a two-hundred day moving average price of $854.71. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The firm has a market cap of $689.43 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts anticipate that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LLY shares. Deutsche Bank Aktiengesellschaft dropped their target price on 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. 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. Wolfe Research assumed 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. Barclays dropped 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. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.