MBE Wealth Management LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

MBE Wealth Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 604 shares of the company’s stock after selling 53 shares during the quarter. MBE Wealth Management LLC’s holdings in Eli Lilly and Company were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LLY. Algert Global LLC boosted its stake in shares of Eli Lilly and Company by 27.9% during the second quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares during the period. Granite Bay Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at $323,000. RiverFront Investment Group LLC bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $256,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $565,000. Finally, Clear Rock Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $229,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LLY. Citigroup decreased their price objective on 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. Barclays decreased their price objective on 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. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on 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 investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $997.22.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

LLY opened at $803.01 on Thursday. Eli Lilly and Company has a 52-week low of $637.00 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $762.31 billion, a P/E ratio of 86.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The firm’s 50-day moving average price is $779.81 and its 200-day moving average price is $846.28.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

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 given a $1.50 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.