Eli Lilly and Company (NYSE:LLY) Shares Acquired by Marcum Wealth LLC

Marcum Wealth LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,353 shares of the company’s stock after buying an additional 209 shares during the period. Marcum Wealth LLC’s holdings in Eli Lilly and Company were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC increased its holdings in shares of 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 buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Citigroup lifted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Truist Financial lifted their target price on shares of 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. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Finally, Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $742.80 on Wednesday. The stock has a market cap of $705.15 billion, a P/E ratio of 80.30, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a fifty day simple moving average of $784.63 and a 200-day simple moving average of $857.48. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Equities analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan 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 plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. 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 0.81%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 64.86%.

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.