Channel Wealth LLC Buys 870 Shares of Eli Lilly and Company (NYSE:LLY)

Channel Wealth LLC grew its position in Eli Lilly and Company (NYSE:LLY) by 11.4% in the fourth quarter, Holdings Channel reports. The fund owned 8,504 shares of the company’s stock after acquiring an additional 870 shares during the quarter. Eli Lilly and Company accounts for 2.1% of Channel Wealth LLC’s portfolio, making the stock its 11th largest holding. Channel Wealth LLC’s holdings in Eli Lilly and Company were worth $6,565,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC boosted its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC grew its holdings in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Down 4.1 %

LLY stock opened at $726.24 on Friday. The stock’s 50 day simple moving average is $783.25 and its 200 day simple moving average is $856.02. The company has a market cap of $689.43 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LLY shares. Deutsche Bank Aktiengesellschaft cut their price target 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 report on Monday, November 4th. Citigroup upped their price target 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. Truist Financial increased their price target on 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.