Summit Wealth & Retirement Planning Inc. Acquires 250 Shares of Eli Lilly and Company (NYSE:LLY)

Summit Wealth & Retirement Planning Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 84.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 546 shares of the company’s stock after purchasing an additional 250 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Eli Lilly and Company were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% during the 3rd 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 during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective 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 report on Monday, November 4th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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 firm has a fifty day simple moving average of $789.87 and a two-hundred day simple moving average of $843.19. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $824.55 billion, a P/E ratio of 74.17, a PEG ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued 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 positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Eli Lilly and Company announced that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Eli Lilly and 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.