IVC Wealth Advisors LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

IVC Wealth Advisors LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,418 shares of the company’s stock after selling 94 shares during the period. IVC Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% in the fourth 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 period. Cedar Mountain Advisors LLC lifted its position 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 valued at $41,000 after buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $58,000. 82.53% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 2.4 %

Shares of LLY stock opened at $784.78 on Friday. The company has a market cap of $745.01 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The stock’s 50 day simple moving average is $776.69 and its two-hundred day simple moving average is $849.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually 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. 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 a boost 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 0.76%. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.