Market Street Wealth Management Advisors LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Market Street Wealth Management Advisors LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,288 shares of the company’s stock after selling 35 shares during the quarter. Eli Lilly and Company accounts for about 2.0% of Market Street Wealth Management Advisors LLC’s investment portfolio, making the stock its 17th largest position. Market Street Wealth Management Advisors LLC’s holdings in Eli Lilly and Company were worth $11,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $30,000. Highline Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 80.0% during the 4th 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 last quarter. Cedar Mountain Advisors LLC increased its position in shares of Eli Lilly and Company by 53.3% during the 3rd 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 last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’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 of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four equities 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 stock currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Trading Up 2.4 %

NYSE:LLY opened at $784.78 on Friday. The company has a 50-day moving average price of $776.69 and a 200-day moving average price of $849.41. The stock has a market cap of $745.01 billion, a price-to-earnings ratio of 84.84, a P/E/G ratio of 1.59 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 $624.68 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.76%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.