Tower View Wealth Management LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Tower View Wealth Management LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,115 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Eli Lilly and Company makes up approximately 4.1% of Tower View Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Tower View Wealth Management LLC’s holdings in Eli Lilly and Company were worth $7,809,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position 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 valued at $35,000 after acquiring an additional 20 shares during the period. Kovitz Investment Group Partners LLC raised its position 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 valued at $41,000 after acquiring an additional 24,879 shares during the period. Finally, FPC Investment Advisory Inc. raised its position 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 valued at $45,000 after acquiring an additional 43 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $920.44 on Friday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $814.88 and a 200 day simple moving average of $848.69. The stock has a market capitalization of $872.73 billion, a PE ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its 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 net margin of 23.51% and a return on equity of 85.24%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LLY shares. 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 research report on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target 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.