1858 Wealth Management LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

1858 Wealth Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 300.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,033 shares of the company’s stock after acquiring an additional 775 shares during the quarter. 1858 Wealth Management LLC’s holdings in Eli Lilly and Company were worth $797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC raised its stake in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was 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 trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Citigroup dropped their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Up 2.1 %

Shares of LLY opened at $843.82 on Thursday. 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 fifty day moving average of $785.46 and a 200 day moving average of $843.28. The company has a market cap of $801.05 billion, a PE ratio of 91.22, a P/E/G ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $691.10 and a 52-week high of $972.53.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.71%. 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 payout ratio is presently 64.86%.

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.