Heck Capital Advisors LLC Takes $2.04 Million Position in Eli Lilly and Company (NYSE:LLY)

Heck Capital Advisors LLC purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,645 shares of the company’s stock, valued at approximately $2,042,000.

Several other hedge funds have also recently modified their holdings of LLY. Algert Global LLC lifted its position in Eli Lilly and Company by 27.9% in the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares during the period. AMF Tjanstepension AB lifted its holdings in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares during the period. Czech National Bank boosted its stake in shares of Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after buying an additional 8,566 shares in the last quarter. GAMMA Investing LLC grew its holdings in Eli Lilly and Company by 24.3% during the third quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock worth $12,838,000 after acquiring an additional 2,833 shares during the period. Finally, WealthBridge Capital Management LLC raised its position in Eli Lilly and Company by 55.6% in the third quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after acquiring an additional 1,876 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company dropped their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Citigroup decreased their price target on 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. Barclays dropped their price objective on 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. Finally, Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.22.

Insider Activity at Eli Lilly and Company

In related 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 transaction, the chief accounting officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 1.4 %

Shares of NYSE:LLY opened at $811.61 on Monday. 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 cap of $770.48 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. The stock’s 50-day moving average price is $783.56 and its two-hundred day moving average price is $844.18. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is 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.