Joel Adams & Associates Inc. Invests $926,000 in Eli Lilly and Company (NYSE:LLY)

Joel Adams & Associates Inc. bought a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,199 shares of the company's stock, valued at approximately $926,000. Eli Lilly and Company comprises 0.8% of Joel Adams & Associates Inc.'s investment portfolio, making the stock its 18th largest position.

Several other large investors have also recently made changes to their positions in the business. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company's stock valued at $41,000 after acquiring an additional 24,879 shares in the last quarter. Finally, Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $3.50 during trading hours on Friday, reaching $876.62. The company's stock had a trading volume of 2,775,916 shares, compared to its average volume of 3,728,728. The firm has a 50 day moving average price of $799.63 and a 200-day moving average price of $846.07. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. 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 stock has a market cap of $832.19 billion, a P/E ratio of 74.82, a P/E/G ratio of 1.39 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.68%. This is an increase 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 51.24%.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LLY shares. Citigroup cut their price objective 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 research report on Tuesday, January 28th. Wolfe Research started 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 objective for the company. StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barclays lowered their target price on shares of 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. Finally, Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $997.50.

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.