Pine Valley Investments Ltd Liability Co Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Pine Valley Investments Ltd Liability Co raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,752 shares of the company’s stock after acquiring an additional 546 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Eli Lilly and Company were worth $6,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Fulcrum Equity Management lifted its position in Eli Lilly and Company by 38.8% during the third quarter. Fulcrum Equity Management now owns 562 shares of the company’s stock valued at $498,000 after purchasing an additional 157 shares during the period. Tudor Financial Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at $400,000. Chelsea Counsel Co. lifted its holdings in shares of Eli Lilly and Company by 232.6% during the 3rd quarter. Chelsea Counsel Co. now owns 1,430 shares of the company’s stock valued at $1,267,000 after buying an additional 1,000 shares during the period. Wealthquest Corp boosted its stake in shares of Eli Lilly and Company by 1.3% in the 3rd quarter. Wealthquest Corp now owns 5,256 shares of the company’s stock worth $4,649,000 after buying an additional 65 shares during the last quarter. Finally, Aldebaran Financial Inc. grew its holdings in shares of Eli Lilly and Company by 51.2% in the third quarter. Aldebaran Financial Inc. now owns 1,093 shares of the company’s stock worth $968,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Down 0.3 %

NYSE LLY opened at $796.88 on Thursday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $756.49 billion, a PE ratio of 86.15, a P/E/G ratio of 3.13 and a beta of 0.41. The stock’s 50 day moving average is $837.49 and its 200 day moving average is $871.40.

Eli Lilly and Company (NYSE:LLY) last released its 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 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 period last year, the firm posted $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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 transaction 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. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

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.