Wiser Advisor Group LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Wiser Advisor Group LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 56.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,512 shares of the company’s stock after purchasing an additional 903 shares during the quarter. Eli Lilly and Company makes up approximately 2.8% of Wiser Advisor Group LLC’s investment portfolio, making the stock its 12th largest position. Wiser Advisor Group LLC’s holdings in Eli Lilly and Company were worth $1,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC grew its stake 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 valued at $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Finally, Hara Capital LLC bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Wells Fargo & Company cut their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Bank of America reiterated 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. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Stock Up 1.7 %

NYSE LLY opened at $920.44 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The stock has a 50 day moving average price of $814.88 and a 200-day moving average price of $849.10.

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

Eli Lilly and Company announced 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 reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

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.