Eli Lilly and Company (NYSE:LLY) Shares Purchased by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,027 shares of the company’s stock after acquiring an additional 127 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Eli Lilly and Company were worth $792,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Tyche Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 52.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 7,044 shares of the company’s stock worth $5,438,000 after acquiring an additional 2,427 shares in the last quarter. Optimist Retirement Group LLC grew its position in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Optimist Retirement Group LLC now owns 3,182 shares of the company’s stock worth $2,457,000 after acquiring an additional 18 shares in the last quarter. LCM Capital Management Inc acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $322,000. Syntegra Private Wealth Group LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $311,000. Finally, Tectonic Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 16.4% in the 4th quarter. Tectonic Advisors LLC now owns 3,890 shares of the company’s stock worth $3,003,000 after purchasing an additional 548 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 3.4 %

LLY opened at $870.56 on Friday. Eli Lilly and Company has a one year low of $707.02 and a one 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 stock’s fifty day moving average is $786.57 and its 200-day moving average is $843.28. The company has a market capitalization of $826.44 billion, a PE ratio of 94.11, a P/E/G ratio of 1.72 and a beta of 0.42.

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

Eli Lilly and Company Increases Dividend

The business 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent research reports. Wolfe Research initiated coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. StockNews.com downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.