Avantra Family Wealth Inc. Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Avantra Family Wealth Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,280 shares of the company’s stock, valued at approximately $988,000. Eli Lilly and Company makes up 0.9% of Avantra Family Wealth Inc.’s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors also recently added to or reduced their stakes in LLY. Algert Global LLC boosted its position in shares of 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 acquiring an additional 110 shares during the period. AMF Tjanstepension AB raised its stake in Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Czech National Bank raised its stake in 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 purchasing an additional 8,566 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Finally, WealthBridge Capital Management LLC raised its stake in shares of Eli Lilly and Company by 55.6% during 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. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $811.47 on Tuesday. The company has a 50-day moving average price of $783.56 and a 200-day moving average price of $843.75. The firm has a market capitalization of $770.35 billion, a P/E ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52 week low of $682.53 and a 52 week high of $972.53.

Eli Lilly and Company declared that its board has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LLY shares. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Citigroup cut 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 report on Tuesday, January 28th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Truist Financial lifted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday. Finally, StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.