Tyche Wealth Partners LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Tyche Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 52.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,044 shares of the company’s stock after purchasing an additional 2,427 shares during the quarter. Eli Lilly and Company accounts for approximately 1.1% of Tyche Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Tyche Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $5,438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. AMF Tjanstepension AB lifted its stake in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Axiom Advisory LLC acquired a new position in Eli Lilly and Company during the third quarter valued at $345,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Eli Lilly and Company by 14.4% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,393 shares of the company’s stock valued at $1,234,000 after purchasing an additional 175 shares during the period. West Financial Advisors LLC acquired a new position in Eli Lilly and Company during the third quarter valued at $58,000. Finally, CWM LLC lifted its position in Eli Lilly and Company by 3.3% during the third quarter. CWM LLC now owns 75,089 shares of the company’s stock valued at $66,524,000 after purchasing an additional 2,389 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LLY shares. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Barclays decreased their target price on shares of 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. Citigroup decreased their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Stock Up 3.4 %

LLY stock opened at $870.56 on Friday. The stock has a market capitalization of $826.44 billion, a P/E ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42. The firm has a 50-day simple moving average of $786.57 and a 200-day simple moving average of $843.28. 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 has a 52 week low of $707.02 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Equities analysts forecast that Eli Lilly and Company will post 12.85 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated 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 buy up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed 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 represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.