Glass Wealth Management Co LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Glass Wealth Management Co LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,689 shares of the company’s stock after acquiring an additional 380 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Eli Lilly and Company were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. CWA Asset Management Group LLC boosted its stake 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 acquiring an additional 724 shares during the last quarter. Centerpoint Advisory Group purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $514,000. M&T Bank Corp lifted its stake in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock valued at $236,389,000 after buying an additional 1,867 shares in the last quarter. Kentucky Trust Co purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $834,000. Finally, Cooper Financial Group lifted its stake in shares of Eli Lilly and Company by 35.5% during the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LLY. Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 target price on shares of Eli Lilly and Company in a research note on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company lowered 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 note on Tuesday, January 28th. Finally, Truist Financial boosted their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $910.92 on Wednesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a market capitalization of $863.70 billion, a P/E ratio of 77.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company’s 50-day moving average is $819.86 and its 200 day moving average is $848.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company 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 $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is 51.24%.

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

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.