Mattern Wealth Management LLC Has $2.21 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Mattern Wealth Management LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,857 shares of the company’s stock after selling 147 shares during the period. Mattern Wealth Management LLC’s holdings in Eli Lilly and Company were worth $2,206,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter worth $30,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of 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. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $803.01 on Thursday. The stock has a 50 day simple moving average of $779.81 and a 200 day simple moving average of $846.28. The stock has a market cap of $762.31 billion, a P/E ratio of 86.81, a PEG ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $637.00 and a 1-year high of $972.53. 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 earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LLY shares. Wells Fargo & Company dropped their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup cut their price objective 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 research report on Tuesday. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $997.22.

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.