Opes Wealth Management LLC Purchases 80 Shares of Eli Lilly and Company (NYSE:LLY)

Opes Wealth Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 33.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Opes Wealth Management LLC’s holdings in Eli Lilly and Company were worth $244,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC raised its holdings 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 worth $35,000 after buying an additional 20 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% in the third 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 in the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $50,000. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LLY. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut 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 research note on Monday, November 4th. Finally, Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Down 3.1 %

LLY stock opened at $844.82 on Tuesday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business’s 50 day simple moving average is $794.44 and its 200 day simple moving average is $845.27. 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 firm has a market capitalization of $802.01 billion, a PE ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, research analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has approved a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.