Strategic Investment Advisors MI Buys 134 Shares of Eli Lilly and Company (NYSE:LLY)

Strategic Investment Advisors MI boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,581 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Strategic Investment Advisors MI’s holdings in Eli Lilly and Company were worth $1,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LLY. Algert Global LLC raised its position in Eli Lilly and Company by 27.9% in the second quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares during the period. Pathway Financial Advisers LLC raised its position in Eli Lilly and Company by 4.2% in the second quarter. Pathway Financial Advisers LLC now owns 1,101 shares of the company’s stock worth $982,000 after acquiring an additional 44 shares during the period. Advisory Alpha LLC raised its position in Eli Lilly and Company by 6.5% in the second quarter. Advisory Alpha LLC now owns 3,208 shares of the company’s stock worth $2,905,000 after acquiring an additional 195 shares during the period. Ted Buchan & Co bought a new position in Eli Lilly and Company in the second quarter worth approximately $1,780,000. Finally, Granite Bay Wealth Management LLC bought a new position in Eli Lilly and Company in the second quarter worth approximately $323,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Barclays decreased their price target 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. Wells Fargo & Company reduced their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research began coverage on shares of 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, Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

LLY stock opened at $804.87 on Wednesday. Eli Lilly and Company has a 52 week low of $637.00 and a 52 week 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 company has a fifty day simple moving average of $778.30 and a two-hundred day simple moving average of $847.30. The firm has a market capitalization of $764.08 billion, a P/E ratio of 87.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released 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 net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the business earned $0.10 EPS. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.75%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents 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 available through this link. 0.13% of the stock is owned by company 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.