Heritage Wealth Management Inc. Has $7.61 Million Stake in Eli Lilly and Company (NYSE:LLY)

Heritage Wealth Management Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,862 shares of the company’s stock after selling 152 shares during the period. Eli Lilly and Company comprises about 2.5% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest position. Heritage Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $7,613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. Key Financial Inc lifted its holdings in Eli Lilly and Company by 1.5% during the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after purchasing an additional 13 shares during the last quarter. Shoker Investment Counsel Inc. lifted its holdings in Eli Lilly and Company by 2.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 679 shares of the company’s stock valued at $602,000 after purchasing an additional 13 shares during the last quarter. Vestia Personal Wealth Advisors lifted its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. Vestia Personal Wealth Advisors now owns 767 shares of the company’s stock valued at $680,000 after purchasing an additional 13 shares during the last quarter. Finally, Altrius Capital Management Inc lifted its holdings in Eli Lilly and Company by 1.0% during the 3rd quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock valued at $1,138,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 1.7 %

Shares of NYSE LLY opened at $920.44 on Friday. The stock has a market cap of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The firm has a 50 day moving average price of $814.88 and a 200 day moving average price of $848.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

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

Eli Lilly and Company Increases Dividend

The business 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 of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is presently 51.24%.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. Citigroup cut their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,000.28.

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.