Vantage Point Financial LLC Purchases New Holdings in Eli Lilly and Company (NYSE:LLY)

Vantage Point Financial LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,081 shares of the company’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hodges Capital Management Inc. boosted its holdings in shares of Eli Lilly and Company by 63.6% in the fourth quarter. Hodges Capital Management Inc. now owns 10,926 shares of the company’s stock valued at $8,434,000 after acquiring an additional 4,248 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at about $203,000. Financial Life Planners purchased a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $1,161,000. Lazari Capital Management Inc. increased its position in Eli Lilly and Company by 124.9% during the 4th quarter. Lazari Capital Management Inc. now owns 1,158 shares of the company’s stock worth $894,000 after purchasing an additional 643 shares during the period. Finally, Fiduciary Planning LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $389,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction 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 approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on LLY shares. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wolfe Research began 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 for the company. Finally, StockNews.com lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Up 2.1 %

LLY stock opened at $827.41 on Wednesday. The company has a 50 day moving average price of $784.69 and a two-hundred day moving average price of $843.49. 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 stock has a market capitalization of $785.48 billion, a P/E ratio of 89.45, a PEG ratio of 1.72 and a beta of 0.42. Eli Lilly and Company has a one year low of $682.53 and a one year high of $972.53.

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

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. 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 yield of 0.73%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

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.