Provident Wealth Management LLC Has $1.03 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Provident Wealth Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,332 shares of the company’s stock after selling 23 shares during the quarter. Provident Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LLY. AMF Tjanstepension AB increased its stake in shares of Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares during the last quarter. Values Added Financial LLC lifted its position in shares of Eli Lilly and Company by 4.9% in the third quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares during the last quarter. Cavalier Investments LLC boosted its stake in shares of Eli Lilly and Company by 211.1% during the 3rd quarter. Cavalier Investments LLC now owns 32,556 shares of the company’s stock worth $28,843,000 after acquiring an additional 22,090 shares during the period. Peterson Wealth Advisors LLC increased its holdings in shares of Eli Lilly and Company by 8.5% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 716 shares of the company’s stock worth $634,000 after acquiring an additional 56 shares during the last quarter. Finally, Kercheville Advisors LLC raised its stake in Eli Lilly and Company by 10.3% in the 3rd quarter. Kercheville Advisors LLC now owns 8,540 shares of the company’s stock valued at $7,566,000 after acquiring an additional 795 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $902.47 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market capitalization of $855.69 billion, a P/E ratio of 77.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The stock has a fifty day moving average of $805.87 and a 200-day moving average of $847.99.

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 return on equity of 85.24% and a net margin of 23.51%. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio is 51.24%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LLY shares. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Citigroup lowered their price target on shares of 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, January 28th. 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. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Barclays reduced their price target 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. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.