Strategic Financial Concepts LLC Acquires 678,209 Shares of Eli Lilly and Company (NYSE:LLY)

Strategic Financial Concepts LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 126,531.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 678,745 shares of the company’s stock after purchasing an additional 678,209 shares during the period. Eli Lilly and Company comprises about 1.0% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 20th biggest holding. Strategic Financial Concepts LLC’s holdings in Eli Lilly and Company were worth $523,991,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Leo Wealth LLC raised its holdings in shares of Eli Lilly and Company by 31.9% during the fourth quarter. Leo Wealth LLC now owns 3,814 shares of the company’s stock valued at $2,945,000 after purchasing an additional 922 shares during the last quarter. Encompass Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $1,239,000. Consolidated Portfolio Review Corp lifted its holdings in shares of Eli Lilly and Company by 537.0% during the 4th quarter. Consolidated Portfolio Review Corp now owns 6,822 shares of the company’s stock valued at $5,266,000 after buying an additional 5,751 shares during the period. Hedeker Wealth LLC boosted its stake in shares of Eli Lilly and Company by 9.8% in the 4th quarter. Hedeker Wealth LLC now owns 1,930 shares of the company’s stock worth $1,490,000 after buying an additional 173 shares during the last quarter. Finally, Eagle Ridge Investment Management grew its holdings in shares of Eli Lilly and Company by 12.1% in the fourth quarter. Eagle Ridge Investment Management now owns 1,450 shares of the company’s stock worth $1,119,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $878.09 on Friday. 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 company’s fifty day moving average price is $788.21 and its 200-day moving average price is $843.47. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a market capitalization of $833.59 billion, a PE ratio of 94.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. On average, equities analysts anticipate that Eli Lilly and Company will post 12.85 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LLY shares. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. 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 report on Thursday, October 31st. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $997.50.

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.