Legacy Financial Strategies LLC Sells 80 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Financial Strategies LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 685 shares of the company’s stock after selling 80 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Eli Lilly and Company were worth $533,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Eli Lilly and Company by 37.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,855 shares of the company’s stock worth $7,965,000 after buying an additional 2,660 shares during the period. Washburn Capital Management Inc. raised its holdings in shares of Eli Lilly and Company by 3.0% in the 4th quarter. Washburn Capital Management Inc. now owns 2,680 shares of the company’s stock valued at $2,069,000 after acquiring an additional 77 shares in the last quarter. Compass Financial Services Inc bought a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $50,000. Newbridge Financial Services Group Inc. grew its position in Eli Lilly and Company by 7.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,310 shares of the company’s stock worth $4,099,000 after acquiring an additional 375 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Eli Lilly and Company by 19.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 39,354 shares of the company’s stock worth $30,381,000 after purchasing an additional 6,386 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LLY. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their target price 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. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $868.57 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market capitalization of $824.55 billion, a price-to-earnings ratio of 74.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The firm has a 50 day moving average of $789.87 and a 200 day moving average of $843.19.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership 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. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date 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 dividend payout ratio (DPR) is 44.41%.

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.