Lazari Capital Management Inc. Buys 643 Shares of Eli Lilly and Company (NYSE:LLY)

Lazari Capital Management Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 124.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,158 shares of the company’s stock after acquiring an additional 643 shares during the quarter. Lazari Capital Management Inc.’s holdings in Eli Lilly and Company were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at about $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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 price objective for the company. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company cut their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’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 value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $827.41 on Wednesday. Eli Lilly and Company has a fifty-two week low of $682.53 and a fifty-two week high of $972.53. The firm’s 50-day simple moving average is $784.69 and its two-hundred day simple moving average is $843.49. The stock has a market cap of $785.48 billion, a PE ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 0.73%. 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 dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company declared that its board has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Eli Lilly and 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.