Occidental Asset Management LLC Buys 18 Shares of Eli Lilly and Company (NYSE:LLY)

Occidental Asset Management LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,475 shares of the company’s stock after purchasing an additional 18 shares during the quarter. Occidental Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beck Bode LLC purchased a new position in Eli Lilly and Company in the second quarter worth $15,036,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Eli Lilly and Company by 8.2% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 357 shares of the company’s stock worth $323,000 after purchasing an additional 27 shares in the last quarter. XTX Topco Ltd purchased a new position in Eli Lilly and Company during the 2nd quarter worth $546,000. Intech Investment Management LLC increased its position in Eli Lilly and Company by 4.6% during the 2nd quarter. Intech Investment Management LLC now owns 229,995 shares of the company’s stock valued at $208,233,000 after buying an additional 10,215 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Eli Lilly and Company by 0.4% in the second quarter. Brighton Jones LLC now owns 11,497 shares of the company’s stock valued at $10,409,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $726.24 on Friday. The company has a market capitalization of $689.43 billion, a PE 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. The company’s fifty day moving average price is $783.25 and its 200 day moving average price is $856.02. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53.

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

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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 given a $1.50 dividend. The ex-dividend date is Friday, February 14th. 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%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Activity

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 transaction, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. Truist Financial boosted their price target on 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. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Citigroup lifted their price objective on shares of 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. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

About Eli Lilly and Company

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.