Encompass Wealth Advisors LLC Makes New $1.24 Million Investment in Eli Lilly and Company (NYSE:LLY)

Encompass Wealth Advisors LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,605 shares of the company’s stock, valued at approximately $1,239,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CWA Asset Management Group LLC boosted its holdings in shares of Eli Lilly and Company by 11.9% during 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 during the period. M&T Bank Corp lifted its position in Eli Lilly and Company by 0.7% during 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 during the last quarter. Cooper Financial Group boosted its holdings in shares of Eli Lilly and Company by 35.5% during the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock worth $2,050,000 after acquiring an additional 695 shares during the period. Everence Capital Management Inc. grew its position in shares of 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. Finally, Jacobs & Co. CA increased its stake in shares of Eli Lilly and Company by 35.2% during the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company’s stock worth $22,690,000 after purchasing an additional 7,646 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $878.09 on Friday. The company’s 50 day moving average price is $788.21 and its two-hundred day moving average price is $843.47. The firm has a market capitalization of $833.59 billion, a P/E ratio of 94.93, a P/E/G ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. 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 released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. On average, equities analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.68%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Wall Street Analyst Weigh In

A number of research analysts have commented on LLY shares. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target 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 note on Monday, November 4th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

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.