PBMares Wealth Management LLC Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

PBMares Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 21.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 600 shares of the company’s stock after purchasing an additional 107 shares during the period. PBMares Wealth Management LLC’s holdings in Eli Lilly and Company were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Summit Financial Strategies Inc. increased its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares in the last quarter. Prio Wealth Limited Partnership grew its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after purchasing an additional 11 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its stake in Eli Lilly and Company by 1.0% in the third quarter. Hummer Financial Advisory Services Inc now owns 1,271 shares of the company’s stock valued at $1,126,000 after acquiring an additional 12 shares during the last quarter. James Hambro & Partners LLP lifted its stake in Eli Lilly and Company by 3.7% in the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock valued at $301,000 after acquiring an additional 12 shares during the last quarter. Finally, Inscription Capital LLC lifted its stake in shares of Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.0 %

Shares of Eli Lilly and Company stock opened at $811.47 on Tuesday. The business has a fifty day simple moving average of $783.56 and a two-hundred day simple moving average of $843.75. Eli Lilly and Company has a 1 year low of $682.53 and a 1 year high of $972.53. The company has a market capitalization of $770.35 billion, a price-to-earnings ratio of 87.73, a P/E/G ratio of 1.72 and a beta of 0.42. 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 declared that its board has initiated a share buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LLY shares. Bank of America reiterated 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. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Barclays lowered their target price 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. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.