Pinnacle Wealth Management Advisory Group LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Pinnacle Wealth Management Advisory Group LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,711 shares of the company’s stock after selling 46 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Eli Lilly and Company were worth $2,865,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Prio Wealth Limited Partnership boosted its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares during the last quarter. James Hambro & Partners LLP grew its stake in Eli Lilly and Company by 3.7% in the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after purchasing an additional 12 shares in the last quarter. Inscription Capital LLC increased its holdings in Eli Lilly and Company by 1.0% in the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock valued at $1,083,000 after buying an additional 12 shares during the last quarter. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Finally, Detalus Advisors LLC lifted its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock worth $707,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Truist Financial increased their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of 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. 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 note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Finally, Wolfe Research started coverage on 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. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Down 3.1 %

Shares of LLY stock opened at $844.82 on Tuesday. Eli Lilly and Company has a 1 year low of $711.40 and a 1 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 business’s fifty day moving average is $794.44 and its 200-day moving average is $845.27. The stock has a market cap of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

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 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

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

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.