Birchcreek Wealth Management LLC Sells 216 Shares of Eli Lilly and Company (NYSE:LLY)

Birchcreek Wealth Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,714 shares of the company’s stock after selling 216 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of Birchcreek Wealth Management LLC’s holdings, making the stock its 23rd largest position. Birchcreek Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,323,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter worth about $30,000. Highline Wealth Partners LLC increased its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 0.1 %

Shares of LLY stock opened at $874.12 on Monday. The stock has a market capitalization of $828.82 billion, a PE ratio of 74.65, a P/E/G ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The business has a 50-day moving average of $801.33 and a 200 day moving average of $847.66. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its 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, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

Eli Lilly and Company 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.