Eli Lilly and Company (NYSE:LLY) Stock Position Raised by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,009 shares of the company’s stock after acquiring an additional 119 shares during the period. Ascent Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $3,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the period. Finally, FPC Investment Advisory Inc. lifted its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.1 %

LLY stock opened at $874.12 on Friday. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company’s 50 day simple moving average is $801.33 and its 200-day simple moving average is $847.13. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $828.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of research analyst reports. Citigroup reduced 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 research note on Tuesday, January 28th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target for the company. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,000.28.

Eli Lilly and Company Profile

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.