Secure Asset Management LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Secure Asset Management LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 86.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,645 shares of the company’s stock after buying an additional 1,689 shares during the period. Secure Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,814,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at about $30,000. Highline Wealth Partners LLC lifted its position 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 purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings 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 worth $41,000 after purchasing an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LLY. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Citigroup increased their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $784.78 on Friday. Eli Lilly and Company has a 52-week low of $624.68 and a 52-week high of $972.53. The stock has a fifty day moving average of $776.69 and a 200 day moving average of $849.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization 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.

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 analysts’ consensus estimates of $1.52 by ($0.34). The business 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 business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, research analysts expect that Eli Lilly and Company will post 12.98 EPS 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 $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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

Insider Activity

In related 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 value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.