Smith Salley Wealth Management Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Smith Salley Wealth Management lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,605 shares of the company’s stock after selling 26 shares during the period. Smith Salley Wealth Management’s holdings in Eli Lilly and Company were worth $1,239,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Raub Brock Capital Management LP boosted its position in Eli Lilly and Company by 0.5% during the 4th quarter. Raub Brock Capital Management LP now owns 24,010 shares of the company’s stock valued at $18,536,000 after acquiring an additional 131 shares in the last quarter. TCP Asset Management LLC boosted its position in shares of Eli Lilly and Company by 6.2% in the 4th quarter. TCP Asset Management LLC now owns 343 shares of the company’s stock worth $265,000 after purchasing an additional 20 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in Eli Lilly and Company by 43.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 11,757 shares of the company’s stock valued at $9,076,000 after acquiring an additional 3,541 shares in the last quarter. HB Wealth Management LLC lifted its position in Eli Lilly and Company by 2.9% in the 4th quarter. HB Wealth Management LLC now owns 43,783 shares of the company’s stock valued at $33,802,000 after acquiring an additional 1,214 shares in the last quarter. Finally, KRS Capital Management LLC lifted its position in Eli Lilly and Company by 3.3% in the 4th quarter. KRS Capital Management LLC now owns 4,906 shares of the company’s stock valued at $3,788,000 after acquiring an additional 156 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value 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 represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $726.24 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The company has a 50 day moving average of $781.14 and a two-hundred day moving average of $854.35. The company has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. On average, analysts expect that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company declared that its board has authorized a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. 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 is currently 64.86%.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, November 4th. Citigroup upped their price objective on 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. Wolfe Research started 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. Sanford C. Bernstein started coverage on 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. Finally, Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.