Lazari Capital Management Inc. Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lazari Capital Management Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 124.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,158 shares of the company’s stock after buying an additional 643 shares during the quarter. Lazari Capital Management Inc.’s holdings in Eli Lilly and Company were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fiduciary Planning LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $389,000. Resonant Capital Advisors LLC boosted its position in Eli Lilly and Company by 1.4% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,996 shares of the company’s stock worth $3,857,000 after purchasing an additional 69 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its stake in shares of Eli Lilly and Company by 703.3% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 2,450 shares of the company’s stock valued at $1,891,000 after purchasing an additional 2,145 shares during the period. Brentview Investment Management LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $2,815,000. Finally, Catalina Capital Group LLC lifted its stake in shares of Eli Lilly and Company by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 4,325 shares of the company’s stock worth $3,339,000 after purchasing an additional 43 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LLY shares. Wells Fargo & Company cut their target price on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Barclays cut their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft cut 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. Five equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 2.1 %

Shares of LLY opened at $827.41 on Wednesday. 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 capitalization of $785.48 billion, a price-to-earnings ratio of 89.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $682.53 and a 1 year high of $972.53. The business’s 50 day simple moving average is $784.69 and its 200-day simple moving average is $843.49.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Eli Lilly and Company announced that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is 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.