Avitas Wealth Management LLC Has $15.22 Million Position in Eli Lilly and Company (NYSE:LLY)

Avitas Wealth Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,713 shares of the company’s stock after purchasing an additional 1,623 shares during the period. Eli Lilly and Company comprises about 2.1% of Avitas Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Avitas Wealth Management LLC’s holdings in Eli Lilly and Company were worth $15,218,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after acquiring an additional 1,021,287 shares during the last quarter. Integrated Investment Consultants LLC grew its position in shares of Eli Lilly and Company by 37,140.7% during the third quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Eli Lilly and Company by 100.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after acquiring an additional 584,866 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in shares of Eli Lilly and Company by 599.9% during the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock worth $381,710,000 after acquiring an additional 369,293 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Barclays decreased 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 research report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, 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 for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Price Performance

Shares of LLY opened at $843.82 on Thursday. The company has a market capitalization of $801.05 billion, a price-to-earnings ratio of 91.22, a P/E/G ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $691.10 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business’s 50-day moving average is $785.46 and its 200-day moving average is $843.28.

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

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

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.