Range Financial Group LLC Acquires 3,744 Shares of Eli Lilly and Company (NYSE:LLY)

Range Financial Group LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 476.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,529 shares of the company’s stock after acquiring an additional 3,744 shares during the quarter. Eli Lilly and Company comprises 1.6% of Range Financial Group LLC’s portfolio, making the stock its 8th biggest holding. Range Financial Group LLC’s holdings in Eli Lilly and Company were worth $3,496,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LLY. One Wealth Capital Management LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at $943,000. Spartan Planning & Wealth Management bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $574,000. Diversified Trust Co lifted its position in shares of Eli Lilly and Company by 7.2% during the 4th quarter. Diversified Trust Co now owns 14,660 shares of the company’s stock valued at $11,318,000 after acquiring an additional 989 shares during the period. Norman Fields Gottscho Capital Management LLC lifted its position in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 1,480 shares of the company’s stock valued at $1,143,000 after acquiring an additional 20 shares during the period. Finally, ShankerValleau Wealth Advisors Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $239,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. 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 price target on the stock. Finally, Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Up 1.0 %

Shares of NYSE:LLY traded up $7.99 during mid-day trading on Tuesday, hitting $773.09. 3,566,298 shares of the company traded hands, compared to its average volume of 2,819,555. The stock has a market cap of $733.91 billion, a P/E ratio of 83.58, a P/E/G ratio of 2.99 and a beta of 0.41. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $609.59 and a 12-month high of $972.53. The stock has a 50-day moving average price of $791.18 and a two-hundred day moving average price of $862.49.

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 analysts’ expectations 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost 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 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is presently 64.86%.

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

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

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.