Spartan Planning & Wealth Management Acquires Shares of 744 Eli Lilly and Company (NYSE:LLY)

Spartan Planning & Wealth Management bought a new position in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, Holdings Channel reports. The fund bought 744 shares of the company’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter valued at approximately $30,000. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after buying an additional 24,879 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the third quarter worth approximately $58,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $10.13 on Tuesday, reaching $775.23. 2,104,285 shares of the company were exchanged, compared to its average volume of 2,447,559. Eli Lilly and Company has a 1 year low of $609.59 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The business has a 50-day moving average price of $791.18 and a 200 day moving average price of $862.49. The company has a market cap of $735.94 billion, a price-to-earnings ratio of 83.81, a P/E/G ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend 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 payout ratio is 64.86%.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LLY shares. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Bank of America restated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Barclays reduced 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 report on Thursday, October 31st. Finally, 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 for the company in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.