Firethorn Wealth Partners LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Firethorn Wealth Partners LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 857 shares of the company’s stock after selling 19 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $662,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in Eli Lilly and Company during the third quarter valued at approximately $58,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $784.78 on Monday. Eli Lilly and Company has a 12-month low of $624.68 and a 12-month high of $972.53. The business’s fifty day simple moving average is $776.69 and its 200-day simple moving average is $848.83. The company has a market capitalization of $745.01 billion, a price-to-earnings ratio of 84.84, a PEG 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 (NYSE:LLY) last posted its quarterly earnings results 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 net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has authorized a share repurchase 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 generally a sign that the company’s board believes its shares are 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 0.76%. The ex-dividend date 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 56.22%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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 on the stock in a research note on Monday, November 4th. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Citigroup boosted their target price 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. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average 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.