Laidlaw Wealth Management LLC Has $1.45 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Laidlaw Wealth Management LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,878 shares of the company’s stock after acquiring an additional 149 shares during the quarter. Laidlaw Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Inscription Capital LLC grew its position in shares of Eli Lilly and Company by 1.0% during the 3rd quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares in the last quarter. Garner Asset Management Corp grew its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Detalus Advisors LLC grew its position in shares of Eli Lilly and Company by 1.7% during the 3rd quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock worth $707,000 after purchasing an additional 13 shares in the last quarter. PSI Advisors LLC grew its position in shares of Eli Lilly and Company by 0.4% during the 3rd quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock worth $2,576,000 after purchasing an additional 13 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its position in shares of Eli Lilly and Company by 0.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock worth $4,447,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.1 %

Shares of NYSE LLY opened at $866.69 on Thursday. 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 52-week low of $711.40 and a 52-week high of $972.53. The firm has a 50 day moving average price of $797.80 and a two-hundred day moving average price of $845.87. The stock has a market cap of $822.77 billion, a P/E ratio of 74.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 51.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup cut their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Barclays cut their price target 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. 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 report on Monday, February 3rd. 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. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

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.