Nadler Financial Group Inc. Grows Position in Eli Lilly and Company (NYSE:LLY)

Nadler Financial Group Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,741 shares of the company’s stock after buying an additional 210 shares during the quarter. Nadler Financial Group Inc.’s holdings in Eli Lilly and Company were worth $2,116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC increased its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $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 during the third quarter valued at $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In other 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 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. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock opened at $811.47 on Tuesday. The firm has a market cap of $770.35 billion, a price-to-earnings ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. The firm has a 50-day simple moving average of $783.56 and a two-hundred day simple moving average of $843.75. Eli Lilly and Company has a one year low of $682.53 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company declared that its board has initiated a stock buyback plan 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 plans are usually an indication 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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LLY shares. Barclays cut their price target on shares of 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. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company 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.