Eli Lilly and Company (NYSE:LLY) Shares Acquired by Enclave Advisors LLC

Enclave Advisors LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 410 shares of the company’s stock after acquiring an additional 30 shares during the quarter. Enclave Advisors LLC’s holdings in Eli Lilly and Company were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at $30,000. Highline Wealth Partners LLC grew its holdings in shares of 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 buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of 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 buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the third quarter valued at $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LLY. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Bank of America reissued 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. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 1.6 %

Shares of LLY opened at $766.00 on Friday. Eli Lilly and Company has a 12-month low of $624.68 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $727.18 billion, a price-to-earnings ratio of 82.81, a P/E/G ratio of 1.56 and a beta of 0.41. The stock’s 50-day moving average price is $776.31 and its 200 day moving average price is $850.93.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts predict that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.