Rialto Wealth Management LLC Acquires Shares of 156 Eli Lilly and Company (NYSE:LLY)

Rialto Wealth Management LLC bought a new position in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 156 shares of the company’s stock, valued at approximately $121,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hamilton Capital Partners LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $5,177,000. Lifeworks Advisors LLC boosted its holdings in Eli Lilly and Company by 13.6% in the fourth quarter. Lifeworks Advisors LLC now owns 8,154 shares of the company’s stock worth $6,295,000 after acquiring an additional 975 shares in the last quarter. Intellectus Partners LLC grew its stake in shares of Eli Lilly and Company by 153.4% in the fourth quarter. Intellectus Partners LLC now owns 1,077 shares of the company’s stock worth $832,000 after acquiring an additional 652 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Eli Lilly and Company by 3.4% during the fourth quarter. Larson Financial Group LLC now owns 15,355 shares of the company’s stock valued at $11,854,000 after acquiring an additional 511 shares in the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Eli Lilly and Company by 12.4% in the 4th quarter. AMF Tjanstepension AB now owns 372,933 shares of the company’s stock worth $287,942,000 after purchasing an additional 41,147 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY opened at $868.59 on Friday. The company’s 50 day moving average is $826.63 and its 200 day moving average is $847.97. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $823.57 billion, a price-to-earnings ratio of 74.17, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved a stock repurchase program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business 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 of this dividend 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 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a report on Thursday, January 16th. Truist Financial raised 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 research report on Monday, February 3rd. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

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.