Pathway Financial Advisers LLC Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Pathway Financial Advisers LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 99.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,186 shares of the company’s stock after selling 1,021,202 shares during the period. Pathway Financial Advisers LLC’s holdings in Eli Lilly and Company were worth $915,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $50,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $872.81 on Friday. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a market cap of $828.58 billion, a price-to-earnings ratio of 74.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company’s 50-day moving average is $793.14 and its two-hundred day moving average is $844.15. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Research analysts expect that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its board has approved a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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 paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Wall Street Analyst Weigh In

LLY has been the subject of several recent analyst reports. Truist Financial raised their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Finally, Citigroup lowered their target price 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. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target 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.