Thrive Wealth Management LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Thrive Wealth Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,443 shares of the company’s stock after selling 63 shares during the period. Thrive Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter worth $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on LLY shares. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.22.

Eli Lilly and Company Trading Up 2.2 %

Shares of LLY stock opened at $741.98 on Wednesday. The business’s fifty day moving average price is $779.00 and its 200 day moving average price is $852.83. The firm has a market capitalization of $704.38 billion, a PE ratio of 80.21, a P/E/G ratio of 1.52 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $614.82 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.98 EPS 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. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.