CWA Asset Management Group LLC Has $5.25 Million Stake in Eli Lilly and Company (NYSE:LLY)

CWA Asset Management Group LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,794 shares of the company’s stock after buying an additional 724 shares during the period. CWA Asset Management Group LLC’s holdings in Eli Lilly and Company were worth $5,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Legacy Wealth Management LLC MS bought a new position in shares of Eli Lilly and Company in the 4th quarter worth $215,000. Nordea Investment Management AB increased its position in shares of Eli Lilly and Company by 13.7% during the fourth quarter. Nordea Investment Management AB now owns 1,154,350 shares of the company’s stock worth $887,014,000 after acquiring an additional 138,835 shares in the last quarter. Everence Capital Management Inc. lifted its position in Eli Lilly and Company by 3.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,340 shares of the company’s stock valued at $17,246,000 after acquiring an additional 690 shares in the last quarter. Modus Advisors LLC boosted its stake in Eli Lilly and Company by 67.0% during the 4th quarter. Modus Advisors LLC now owns 800 shares of the company’s stock valued at $618,000 after purchasing an additional 321 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Eli Lilly and Company by 19.2% in the fourth quarter. Versant Capital Management Inc now owns 1,167 shares of the company’s stock worth $901,000 after purchasing an additional 188 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on LLY shares. Deutsche Bank Aktiengesellschaft lowered 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 research note on Monday, November 4th. JPMorgan Chase & Co. increased their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

NYSE LLY traded down $6.44 during trading hours on Monday, reaching $775.54. 788,880 shares of the stock traded hands, compared to its average volume of 1,468,521. The stock has a 50 day simple moving average of $793.82 and a two-hundred day simple moving average of $863.35. Eli Lilly and Company has a 1 year low of $609.59 and a 1 year high of $972.53. The company has a market cap of $736.23 billion, a price-to-earnings ratio of 83.84, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 business 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%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date 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 payout ratio is 64.86%.

Eli Lilly and Company 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.