Prentice Wealth Management LLC Increases Position in Eli Lilly and Company (NYSE:LLY)

Prentice Wealth Management LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,206 shares of the company’s stock after purchasing an additional 44 shares during the period. Prentice Wealth Management LLC’s holdings in Eli Lilly and Company were worth $931,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after acquiring an additional 176,552 shares in the last quarter. Values Added Financial LLC boosted its stake in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after purchasing an additional 17 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. YHB Investment Advisors Inc. raised its position in Eli Lilly and Company by 16.1% in the 3rd quarter. YHB Investment Advisors Inc. now owns 5,392 shares of the company’s stock worth $4,777,000 after purchasing an additional 746 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in Eli Lilly and Company by 1.9% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,984 shares of the company’s stock worth $2,644,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.1 %

Shares of NYSE LLY opened at $874.12 on Friday. The firm’s 50 day moving average price is $801.33 and its 200-day moving average price is $846.75. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. 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 has a market cap of $829.82 billion, a PE ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42.

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

Eli Lilly and Company Increases Dividend

The business also recently declared 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Eli Lilly and Company declared that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports 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 company a “buy” rating in a research report on Monday, February 3rd. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. 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 target on the stock. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, 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 on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

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.