BankPlus Wealth Management LLC Takes Position in Eli Lilly and Company (NYSE:LLY)

BankPlus Wealth Management LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 987 shares of the company's stock, valued at approximately $761,000.

A number of other institutional investors have also recently made changes to their positions in LLY. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Eli Lilly and Company by 92,759.9% in 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 raised its holdings in shares of 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 acquiring an additional 692,303 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company's stock valued at $1,032,737,000 after buying an additional 584,866 shares during the period. Finally, Mizuho Securities USA LLC lifted its stake in Eli Lilly and Company by 599.9% in the third 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 during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

LLY stock traded up $19.51 during trading on Thursday, reaching $823.59. 2,641,752 shares of the stock were exchanged, compared to its average volume of 3,922,555. Eli Lilly and Company has a twelve month low of $637.00 and a twelve month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a 50 day simple moving average of $780.80 and a 200-day simple moving average of $845.98. The company has a market capitalization of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 12.98 earnings per share for the current year.

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 is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. 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 56.22%.

Eli Lilly and Company announced that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Bank of America reissued a "buy" rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a report on Monday, November 4th. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company cut their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Citigroup lowered their target price on 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. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $997.22.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company's stock.

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.