Market Street Wealth Management Advisors LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Market Street Wealth Management Advisors LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,288 shares of the company’s stock after selling 35 shares during the quarter. Eli Lilly and Company accounts for 2.0% of Market Street Wealth Management Advisors LLC’s portfolio, making the stock its 17th largest position. Market Street Wealth Management Advisors LLC’s holdings in Eli Lilly and Company were worth $11,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 8.6% in the fourth quarter. Avior Wealth Management LLC now owns 5,253 shares of the company’s stock worth $4,056,000 after acquiring an additional 414 shares during the period. Beacon Investment Advisory Services Inc. boosted its holdings in Eli Lilly and Company by 41.0% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 28,122 shares of the company’s stock worth $21,710,000 after purchasing an additional 8,172 shares during the last quarter. Peterson Wealth Advisors LLC grew its position in Eli Lilly and Company by 12.2% in the 4th quarter. Peterson Wealth Advisors LLC now owns 803 shares of the company’s stock worth $628,000 after purchasing an additional 87 shares during the period. MinichMacGregor Wealth Management LLC raised its stake in Eli Lilly and Company by 25.3% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 915 shares of the company’s stock valued at $707,000 after buying an additional 185 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Eli Lilly and Company by 14.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,295 shares of the company’s stock valued at $1,000,000 after buying an additional 159 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.4 %

NYSE LLY opened at $784.78 on Friday. The stock has a 50 day moving average price of $776.69 and a 200-day moving average price of $849.41. Eli Lilly and Company has a one year low of $624.68 and a one 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 company has a market capitalization of $745.01 billion, a P/E ratio of 84.84, a P/E/G ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate 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 business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the business earned $0.10 EPS. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 12.98 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed 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 is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LLY. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Barclays decreased their price target 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 report on Thursday, October 31st. Finally, 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 research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

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.