RFG Advisory LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

RFG Advisory LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,212 shares of the company’s stock after purchasing an additional 1,206 shares during the quarter. RFG Advisory LLC’s holdings in Eli Lilly and Company were worth $7,884,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Driehaus Capital Management LLC increased its position in Eli Lilly and Company by 94.2% during the second quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock valued at $1,480,000 after acquiring an additional 793 shares during the last quarter. Aviso Wealth Management boosted its stake in shares of Eli Lilly and Company by 3.8% during the 2nd quarter. Aviso Wealth Management now owns 2,139 shares of the company’s stock worth $1,936,000 after purchasing an additional 79 shares during the period. Algert Global LLC grew its holdings in Eli Lilly and Company by 27.9% during the 2nd 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 last quarter. Creative Planning raised its position in Eli Lilly and Company by 4.1% in the 2nd quarter. Creative Planning now owns 228,675 shares of the company’s stock worth $207,038,000 after purchasing an additional 9,007 shares during the period. Finally, Doheny Asset Management CA boosted its position in shares of Eli Lilly and Company by 0.6% during the second quarter. Doheny Asset Management CA now owns 3,880 shares of the company’s stock valued at $3,513,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LLY. Citigroup increased their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Barclays reduced their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced 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 research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 2.4 %

NYSE LLY opened at $784.78 on Monday. Eli Lilly and Company has a 52 week low of $624.68 and a 52 week high of $972.53. The company has a 50 day moving average price of $776.69 and a 200 day moving average price of $848.83. 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 firm has a market cap of $745.01 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.98 EPS for the current fiscal 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 paid a $1.50 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

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.