Drive Wealth Management LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Drive Wealth Management LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,495 shares of the company’s stock after acquiring an additional 185 shares during the quarter. Drive Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,926,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $105,000. Tennessee Valley Asset Management Partners boosted its stake in Eli Lilly and Company by 60.0% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 480 shares of the company’s stock worth $371,000 after buying an additional 180 shares during the period. Narwhal Capital Management increased its position in Eli Lilly and Company by 4.9% during the fourth quarter. Narwhal Capital Management now owns 22,456 shares of the company’s stock valued at $17,336,000 after acquiring an additional 1,053 shares during the last quarter. Peak Financial Management Inc. raised its stake in shares of Eli Lilly and Company by 59.4% in the fourth quarter. Peak Financial Management Inc. now owns 365 shares of the company’s stock valued at $282,000 after acquiring an additional 136 shares during the period. Finally, TI Trust Inc. lifted its holdings in shares of Eli Lilly and Company by 7.0% in the 4th quarter. TI Trust Inc. now owns 2,280 shares of the company’s stock worth $1,760,000 after acquiring an additional 150 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $4,402,522.40. This trade represents 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 the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.4 %

Shares of NYSE LLY opened at $804.87 on Wednesday. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53. The stock’s fifty day simple moving average is $778.30 and its two-hundred day simple moving average is $847.30. The stock has a market capitalization of $764.08 billion, a PE ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, analysts expect that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. 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 0.75%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Citigroup reduced their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wolfe Research started 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. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $997.22.

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.