HB Wealth Management LLC Has $33.80 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

HB Wealth Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,783 shares of the company’s stock after purchasing an additional 1,214 shares during the period. HB Wealth Management LLC’s holdings in Eli Lilly and Company were worth $33,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LLY. KRS Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 3.3% in the 4th quarter. KRS Capital Management LLC now owns 4,906 shares of the company’s stock valued at $3,788,000 after purchasing an additional 156 shares during the period. Trust Co. of Vermont lifted its stake in Eli Lilly and Company by 6.7% in the fourth quarter. Trust Co. of Vermont now owns 8,659 shares of the company’s stock valued at $6,685,000 after buying an additional 542 shares during the period. Shelton Wealth Management LLC boosted its holdings in Eli Lilly and Company by 57.6% during the fourth quarter. Shelton Wealth Management LLC now owns 1,155 shares of the company’s stock worth $892,000 after buying an additional 422 shares during the last quarter. CGN Advisors LLC grew its position in shares of Eli Lilly and Company by 32.9% during the 4th quarter. CGN Advisors LLC now owns 4,199 shares of the company’s stock worth $3,242,000 after buying an additional 1,040 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its stake in shares of Eli Lilly and Company by 20.2% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 24,165 shares of the company’s stock valued at $18,655,000 after acquiring an additional 4,065 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s 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 sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial raised their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $726.24 on Monday. The stock has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The firm has a fifty day simple moving average of $781.14 and a 200 day simple moving average of $854.35. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts forecast that Eli Lilly and Company will post 13.14 EPS for the current fiscal year.

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

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 given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company’s payout ratio is 64.86%.

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.