Eli Lilly and Company (NYSE:LLY) Shares Bought by Watts Gwilliam & Co. LLC

Watts Gwilliam & Co. LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,688 shares of the company’s stock after purchasing an additional 96 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Eli Lilly and Company were worth $1,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC lifted its holdings in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after buying an additional 724 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in Eli Lilly and Company by 3.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after purchasing an additional 690 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Eli Lilly and Company by 13.7% in the fourth quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock valued at $887,014,000 after purchasing an additional 138,835 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $899,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.7 %

Shares of NYSE:LLY opened at $786.15 on Friday. 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’s 50-day moving average price is $786.48 and its 200 day moving average price is $860.65. The company has a market cap of $746.30 billion, a PE ratio of 84.99, a P/E/G ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $612.70 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Sell-side analysts anticipate that Eli Lilly and Company will post 13.18 earnings per share for the current year.

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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company announced that its board has approved a share buyback program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on LLY shares. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Citigroup upped their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wolfe Research began 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 objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,002.22.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.