Midwest Capital Advisors LLC Takes $182,000 Position in Eli Lilly and Company (NYSE:LLY)

Midwest Capital 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 fund acquired 236 shares of the company’s stock, valued at approximately $182,000.

A number of other institutional investors have also modified their holdings of LLY. Pathway Financial Advisers LLC grew its stake in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after purchasing an additional 692,303 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Eli Lilly and Company by 126,531.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after purchasing an additional 678,209 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Eli Lilly and Company by 599.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock worth $381,710,000 after purchasing an additional 369,293 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in Eli Lilly and Company by 257.1% during the 3rd quarter. Holocene Advisors LP now owns 437,603 shares of the company’s stock worth $387,690,000 after purchasing an additional 315,065 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.1 %

Eli Lilly and Company stock opened at $874.12 on Monday. 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 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $828.82 billion, a P/E ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. The stock has a 50-day simple moving average of $801.33 and a 200-day simple moving average of $847.66.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 23.51% and a return on equity of 85.24%. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LLY shares. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. 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 target price for the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

About Eli Lilly and Company

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.