PUREfi Wealth LLC Acquires Shares of 705 Eli Lilly and Company (NYSE:LLY)

PUREfi Wealth LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 705 shares of the company’s stock, valued at approximately $544,000.

A number of other hedge funds have also made changes to their positions in LLY. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc bought a new position in Eli Lilly and Company during the fourth quarter worth $50,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on LLY shares. Citigroup reduced their price objective on 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. 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 research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $844.82 on Friday. The firm’s 50-day simple moving average is $794.44 and its 200 day simple moving average is $844.60. The stock has a market cap of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 expect that Eli Lilly and Company will post 23.33 EPS for the current year.

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 positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 44.41%.

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

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.