W.H. Cornerstone Investments Inc. Has $604,000 Stake in Eli Lilly and Company (NYSE:LLY)

W.H. Cornerstone Investments Inc. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 26.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 782 shares of the company’s stock after selling 277 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Eli Lilly and Company were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Hara Capital LLC bought a new stake in Eli Lilly and Company in the third quarter valued at approximately $58,000. Finally, Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $50,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays cut 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 note on Thursday, October 31st. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, 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 on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $844.82 on Friday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a market cap of $802.01 billion, a PE ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. 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 business has a 50-day simple moving average of $794.07 and a two-hundred day simple moving average of $844.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 net margin of 23.51% and a return on equity of 86.26%. As a group, equities analysts expect that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.71%. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has authorized 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 reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.