Partnership Wealth Management LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

Partnership Wealth Management LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,814 shares of the company’s stock after buying an additional 40 shares during the period. Eli Lilly and Company makes up approximately 14.0% of Partnership Wealth Management LLC’s portfolio, making the stock its biggest holding. Partnership Wealth Management LLC’s holdings in Eli Lilly and Company were worth $16,840,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the third quarter worth approximately $30,000. Cedar Mountain Advisors LLC increased its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. Kovitz Investment Group Partners LLC raised 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 purchasing an additional 24,879 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in Eli Lilly and Company during the third quarter valued at approximately $58,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.7 %

Shares of Eli Lilly and Company stock traded up $12.86 during midday trading on Wednesday, reaching $786.15. 3,405,092 shares of the company’s stock traded hands, compared to its average volume of 2,942,447. The company has a market cap of $746.30 billion, a PE ratio of 84.99, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The stock has a 50 day moving average of $788.56 and a 200-day moving average of $861.70. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month 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 (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company 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 0.76%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LLY shares. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Barclays dropped their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

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.