Eli Lilly and Company (NYSE:LLY) Stake Increased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 41.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 976 shares of the company’s stock after buying an additional 285 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of 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. purchased a new position in shares of Eli Lilly and Company during the 3rd quarter valued at $30,000. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in Eli Lilly and Company by 117.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.4 %

Shares of Eli Lilly and Company stock opened at $823.59 on Friday. Eli Lilly and Company has a 12-month low of $637.00 and a 12-month high of $972.53. The stock has a market capitalization of $781.85 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The company has a 50-day simple moving average of $780.80 and a 200 day simple moving average of $845.98. 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 posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Research analysts expect that Eli Lilly and Company will post 12.98 earnings per share for the current fiscal year.

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 buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign 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. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

Analyst Upgrades and Downgrades

LLY has been the topic of several analyst reports. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Citigroup reduced their price objective on 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. Deutsche Bank Aktiengesellschaft cut their target price 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, Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.22.

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.