World Equity Group Inc. Boosts Stake in Eli Lilly and Company (NYSE:LLY)

World Equity Group Inc. grew its stake in Eli Lilly and Company (NYSE:LLY) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 807 shares of the company’s stock after buying an additional 51 shares during the period. World Equity Group Inc.’s holdings in Eli Lilly and Company were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Delta Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $5,196,000. Ascent Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 3.1% in the fourth quarter. Ascent Wealth Partners LLC now owns 4,009 shares of the company’s stock worth $3,095,000 after acquiring an additional 119 shares during the period. Cabot Wealth Management Inc. increased its stake in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Cabot Wealth Management Inc. now owns 6,355 shares of the company’s stock worth $4,906,000 after acquiring an additional 107 shares during the period. MONECO Advisors LLC increased its stake in shares of Eli Lilly and Company by 26.7% in the fourth quarter. MONECO Advisors LLC now owns 4,100 shares of the company’s stock worth $3,165,000 after acquiring an additional 863 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $227,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $874.12 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market cap of $828.82 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The firm’s fifty day simple moving average is $801.33 and its two-hundred day simple moving average is $847.66.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 85.24% and a net margin of 23.51%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm 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. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 51.24%.

Eli Lilly and Company declared that its board has authorized a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on LLY. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of 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. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,000.28.

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.