Global Wealth Management Investment Advisory Inc. Has $4.78 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Global Wealth Management Investment Advisory Inc. grew its position in Eli Lilly and Company (NYSE:LLY) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,191 shares of the company’s stock after purchasing an additional 52 shares during the period. Eli Lilly and Company comprises about 1.0% of Global Wealth Management Investment Advisory Inc.’s holdings, making the stock its 29th largest position. Global Wealth Management Investment Advisory Inc.’s holdings in Eli Lilly and Company were worth $4,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of 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 buying an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings 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 worth $41,000 after buying an additional 24,879 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LLY. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Truist Financial increased their target price on 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Citigroup dropped their target price 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 report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Down 0.4 %

NYSE LLY opened at $865.13 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average is $791.24 and its two-hundred day moving average is $843.52. The company has a market capitalization of $821.28 billion, a price-to-earnings ratio of 73.88, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its 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 return on equity of 86.26% and a net margin of 23.51%. Equities analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated 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 buy up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and 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.