Eli Lilly and Company (NYSE:LLY) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,363 shares of the company’s stock after buying an additional 92 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Eli Lilly and Company were worth $5,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Algert Global LLC raised its position in shares of Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after buying an additional 110 shares during the period. Pathway Financial Advisers LLC increased its stake in Eli Lilly and Company by 4.2% during the second quarter. Pathway Financial Advisers LLC now owns 1,101 shares of the company’s stock worth $982,000 after acquiring an additional 44 shares during the last quarter. Advisory Alpha LLC lifted its stake in shares of Eli Lilly and Company by 6.5% in the 2nd quarter. Advisory Alpha LLC now owns 3,208 shares of the company’s stock valued at $2,905,000 after purchasing an additional 195 shares during the last quarter. Ted Buchan & Co purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $1,780,000. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $323,000. 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 the firm’s 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 sale, the chief accounting officer now 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 Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft decreased 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. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $804.87 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a fifty day simple moving average of $778.30 and a 200-day simple moving average of $847.30. The stock has a market cap of $764.08 billion, a P/E ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 business had revenue of $11.44 billion for 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 firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s payout ratio is presently 56.22%.

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.