Concord Wealth Partners Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Concord Wealth Partners grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,413 shares of the company’s stock after buying an additional 346 shares during the quarter. Concord Wealth Partners’ holdings in Eli Lilly and Company were worth $4,179,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Eli Lilly and Company by 117.1% in the third 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 during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of several research reports. Barclays decreased their target price on 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. Sanford C. Bernstein assumed 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. 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 on the stock in a research report on Monday, November 4th. Wolfe Research assumed 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. Finally, Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of 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 value of $723,042.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 1.4 %

Eli Lilly and Company stock opened at $811.61 on Monday. The company’s 50-day moving average price is $783.56 and its two-hundred day moving average price is $844.18. The stock has a market cap of $770.48 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.71 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $637.00 and a 52 week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

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 issued a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company announced that its board has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.