Golden State Wealth Management LLC Invests $722,000 in Eli Lilly and Company (NYSE:LLY)

Golden State Wealth Management LLC acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 934 shares of the company's stock, valued at approximately $722,000.

A number of other large investors also recently bought and sold shares of LLY. CWA Asset Management Group LLC grew its holdings in Eli Lilly and Company by 11.9% in the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company's stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. M&T Bank Corp boosted its holdings in Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company's stock valued at $236,389,000 after purchasing an additional 1,867 shares during the last quarter. Cooper Financial Group boosted its holdings in Eli Lilly and Company by 35.5% in the fourth quarter. Cooper Financial Group now owns 2,655 shares of the company's stock valued at $2,050,000 after purchasing an additional 695 shares during the last quarter. Everence Capital Management Inc. raised 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 worth $17,246,000 after acquiring an additional 690 shares during the period. Finally, Jacobs & Co. CA raised its position in shares of Eli Lilly and Company by 35.2% in the fourth quarter. Jacobs & Co. CA now owns 29,391 shares of the company's stock worth $22,690,000 after acquiring an additional 7,646 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 0.9 %

Shares of NYSE:LLY traded up $7.98 during mid-day trading on Wednesday, reaching $872.98. 2,532,414 shares of the company were exchanged, compared to its average volume of 3,853,300. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market cap of $828.74 billion, a price-to-earnings ratio of 74.55, a P/E/G ratio of 1.87 and a beta of 0.42. The firm's 50-day simple moving average is $792.27 and its 200 day simple moving average is $843.94. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) 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 86.26% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a stock buyback plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company's previous quarterly dividend of $1.30. Eli Lilly and Company's dividend payout ratio (DPR) is currently 44.41%.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Barclays decreased their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price target 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 research report on Monday, November 4th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price target for the company. 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. Finally, Bank of America restated 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.