Affinity Wealth Management LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Affinity Wealth Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,769 shares of the company’s stock after buying an additional 95 shares during the period. Eli Lilly and Company comprises about 1.7% of Affinity Wealth Management LLC’s holdings, making the stock its 17th biggest position. Affinity Wealth Management LLC’s holdings in Eli Lilly and Company were worth $9,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jamison Private Wealth Management Inc. lifted its stake in shares of Eli Lilly and Company by 0.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 21,663 shares of the company’s stock worth $16,724,000 after acquiring an additional 159 shares during the last quarter. Asio Capital LLC lifted its stake in shares of Eli Lilly and Company by 352.0% during the 4th quarter. Asio Capital LLC now owns 5,257 shares of the company’s stock worth $4,058,000 after acquiring an additional 4,094 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Eli Lilly and Company by 2.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 13,494 shares of the company’s stock worth $10,417,000 after acquiring an additional 337 shares during the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Archford Capital Strategies LLC now owns 4,152 shares of the company’s stock worth $3,205,000 after acquiring an additional 68 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 6,488 shares of the company’s stock worth $5,009,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LLY shares. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Bank of America reaffirmed 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $808.16 on Tuesday. The stock has a market cap of $767.20 billion, a PE ratio of 87.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The business has a 50-day simple moving average of $776.69 and a 200-day simple moving average of $848.19. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $637.00 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’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 company posted $0.10 EPS. On average, equities analysts expect that Eli Lilly and Company will post 12.98 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.