Birchcreek Wealth Management LLC Sells 216 Shares of Eli Lilly and Company (NYSE:LLY)

Birchcreek Wealth Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,714 shares of the company’s stock after selling 216 shares during the period. Eli Lilly and Company accounts for about 0.8% of Birchcreek Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Birchcreek Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Inscription Capital LLC raised its position in shares of Eli Lilly and Company by 1.0% in the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp increased its position in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Boston Financial Mangement LLC increased its position in Eli Lilly and Company by 0.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after buying an additional 13 shares in the last quarter. Key Financial Inc increased its position in Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after buying an additional 13 shares in the last quarter. Finally, Shoker Investment Counsel Inc. increased its position in Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after buying an additional 13 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. 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 objective for the company. Barclays reduced 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 report on Thursday, October 31st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

LLY stock opened at $874.12 on Monday. The company has a market cap of $828.82 billion, a P/E ratio of 74.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock’s fifty day moving average price is $801.33 and its 200-day moving average price is $847.66.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.