Heirloom Wealth Management Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Heirloom Wealth Management increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,756 shares of the company's stock after purchasing an additional 700 shares during the period. Eli Lilly and Company makes up approximately 2.0% of Heirloom Wealth Management's holdings, making the stock its 17th biggest position. Heirloom Wealth Management's holdings in Eli Lilly and Company were worth $6,760,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ridgecrest Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 11.6% during the fourth quarter. Ridgecrest Wealth Partners LLC now owns 911 shares of the company's stock valued at $703,000 after purchasing an additional 95 shares during the last quarter. Webster Bank N. A. increased its position in Eli Lilly and Company by 7.3% in the fourth quarter. Webster Bank N. A. now owns 2,097 shares of the company's stock worth $1,619,000 after buying an additional 142 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Eli Lilly and Company by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 62,733 shares of the company's stock valued at $48,430,000 after acquiring an additional 3,934 shares during the period. United Asset Strategies Inc. increased its stake in shares of Eli Lilly and Company by 3.9% in the fourth quarter. United Asset Strategies Inc. now owns 4,304 shares of the company's stock worth $3,323,000 after purchasing an additional 161 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its holdings in Eli Lilly and Company by 0.7% during the fourth quarter. Cornerstone Wealth Group LLC now owns 12,648 shares of the company's stock valued at $9,765,000 after acquiring an additional 85 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 2.4 %

LLY traded up $19.51 during trading hours on Thursday, reaching $823.59. The company's stock had a trading volume of 2,641,691 shares, compared to its average volume of 3,922,107. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. The business's 50-day moving average is $780.80 and its 200-day moving average is $845.98. The stock has a market cap of $781.85 billion, a PE ratio of 89.04, a P/E/G ratio of 1.59 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

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

Eli Lilly and Company announced that its board has approved a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from Eli Lilly and Company's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's dividend payout ratio is presently 56.22%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Finally, Barclays lowered 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. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $997.22.

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.