C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,488 shares of the company’s stock after acquiring an additional 95 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Eli Lilly and Company were worth $1,149,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Valley Wealth Managers Inc. grew its stake in Eli Lilly and Company by 16.2% during the fourth quarter. Valley Wealth Managers Inc. now owns 2,626 shares of the company’s stock valued at $2,027,000 after acquiring an additional 366 shares in the last quarter. Bfsg LLC grew its stake in shares of Eli Lilly and Company by 10.3% in the 4th quarter. Bfsg LLC now owns 2,917 shares of the company’s stock worth $2,252,000 after buying an additional 272 shares in the last quarter. BKM Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 85.3% in the 4th quarter. BKM Wealth Management LLC now owns 480 shares of the company’s stock worth $371,000 after buying an additional 221 shares in the last quarter. Beaton Management Co. Inc. grew its stake in shares of Eli Lilly and Company by 2.9% in the 4th quarter. Beaton Management Co. Inc. now owns 5,911 shares of the company’s stock worth $4,563,000 after buying an additional 164 shares in the last quarter. Finally, GAM Holding AG grew its stake in shares of Eli Lilly and Company by 11.7% in the 4th quarter. GAM Holding AG now owns 33,490 shares of the company’s stock worth $25,854,000 after buying an additional 3,512 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.6 %

NYSE LLY opened at $857.38 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a market capitalization of $813.93 billion, a price-to-earnings ratio of 73.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company’s 50-day simple moving average is $796.41 and its two-hundred day simple moving average is $845.73. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

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 net margin of 23.51% and a return on equity of 86.26%. Equities analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm 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 dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

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.