Oak Harbor Wealth Partners LLC Has $1.39 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Oak Harbor Wealth Partners LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,796 shares of the company’s stock after selling 50 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $1,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LLY. Principal Financial Group Inc. raised its position in shares of Eli Lilly and Company by 5.3% during the third quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock worth $1,070,698,000 after purchasing an additional 60,306 shares during the period. Hara Capital LLC acquired a new position in Eli Lilly and Company during the third quarter valued at $58,000. Consolidated Planning Corp raised its position in Eli Lilly and Company by 64.3% during the third quarter. Consolidated Planning Corp now owns 5,254 shares of the company’s stock valued at $4,655,000 after buying an additional 2,057 shares during the period. Portside Wealth Group LLC raised its position in Eli Lilly and Company by 13.1% during the third quarter. Portside Wealth Group LLC now owns 3,158 shares of the company’s stock valued at $2,798,000 after buying an additional 365 shares during the period. Finally, Mainstream Capital Management LLC acquired a new position in Eli Lilly and Company during the third quarter valued at $238,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE LLY opened at $868.59 on Friday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $823.57 billion, a PE ratio of 74.17, a P/E/G ratio of 1.40 and a beta of 0.34. The stock has a 50-day simple moving average of $826.63 and a 200 day simple moving average of $848.68.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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 85.24%. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research report on Friday, January 17th. 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 price target on the stock. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Citigroup dropped 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 report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,007.50.

Eli Lilly and 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.