Journey Strategic Wealth LLC Has $2.32 Million Position in Eli Lilly and Company (NYSE:LLY)

Journey Strategic Wealth LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,010 shares of the company’s stock after buying an additional 92 shares during the period. Journey Strategic Wealth LLC’s holdings in Eli Lilly and Company were worth $2,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Algert Global LLC boosted its stake in shares of Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock valued at $456,000 after purchasing an additional 110 shares in the last quarter. AMF Tjanstepension AB boosted its position in Eli Lilly and Company by 113.7% in the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares in the last quarter. Czech National Bank boosted its position in Eli Lilly and Company by 5.6% in the third quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after buying an additional 8,566 shares in the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 24.3% in the third quarter. GAMMA Investing LLC now owns 14,491 shares of the company’s stock valued at $12,838,000 after buying an additional 2,833 shares in the last quarter. Finally, WealthBridge Capital Management LLC boosted its holdings in shares of Eli Lilly and Company by 55.6% in the 3rd quarter. WealthBridge Capital Management LLC now owns 5,249 shares of the company’s stock worth $4,650,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on LLY shares. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Citigroup reduced their price target 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 research report on Tuesday, January 28th. Wolfe Research initiated 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. Wells Fargo & Company reduced their target price 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 report on Tuesday, January 28th. Finally, Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $811.47 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $770.35 billion, a P/E ratio of 87.73, a PEG ratio of 1.72 and a beta of 0.42. The business has a 50-day moving average of $783.56 and a 200-day moving average of $843.75. Eli Lilly and Company has a 1 year low of $682.53 and a 1 year high of $972.53.

Eli Lilly and Company Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Eli Lilly and Company 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.