Eli Lilly and Company (NYSE:LLY) Shares Bought by StoneCrest Wealth Management Inc.

StoneCrest Wealth Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,268 shares of the company’s stock after acquiring an additional 336 shares during the period. Eli Lilly and Company makes up 2.7% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 15th biggest holding. StoneCrest Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $4,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Beaird Harris Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares during the last quarter. Summit Financial Strategies Inc. raised its stake in 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 valued at $1,865,000 after buying an additional 11 shares in the last quarter. Prio Wealth Limited Partnership lifted its holdings in Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 shares during the last quarter. Tcwp LLC boosted its position in shares of Eli Lilly and Company by 2.3% during the 2nd quarter. Tcwp LLC now owns 524 shares of the company’s stock worth $474,000 after acquiring an additional 12 shares in the last quarter. Finally, First Community Trust NA boosted its position in shares of Eli Lilly and Company by 4.9% during the 3rd quarter. First Community Trust NA now owns 257 shares of the company’s stock worth $228,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on 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 in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $726.24 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business has a 50 day simple moving average of $783.25 and a 200-day simple moving average of $856.02. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The stock has a market capitalization of $689.43 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.