Glass Wealth Management Co LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Glass Wealth Management Co LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 16.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,689 shares of the company’s stock after buying an additional 380 shares during the period. Glass Wealth Management Co LLC’s holdings in Eli Lilly and Company were worth $2,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the third quarter worth about $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 lifted its holdings in 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. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the period. Finally, Hara Capital LLC purchased a new stake in Eli Lilly and Company in the third quarter worth about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LLY. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a report on Friday, January 17th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company Trading Down 2.0 %

NYSE:LLY opened at $910.92 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The company has a market cap of $863.70 billion, a PE ratio of 77.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a 50 day simple moving average of $819.86 and a two-hundred day simple moving average of $848.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, February 6th. The company reported $5.32 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%. Research 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. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.