Mayfair Advisory Group LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Mayfair Advisory Group LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,533 shares of the company’s stock after buying an additional 64 shares during the period. Mayfair Advisory Group LLC’s holdings in Eli Lilly and Company were worth $1,183,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its position in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $723,042.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Shares of NYSE LLY opened at $746.42 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $708.59 billion, a PE ratio of 80.69, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The stock’s fifty day simple moving average is $784.63 and its two-hundred day simple moving average is $857.48. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. As a group, analysts expect that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business 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 represents a $6.00 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, February 14th. 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 64.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LLY shares. Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.