Eli Lilly and Company (NYSE:LLY) Shares Acquired by MGB Wealth Management LLC

MGB Wealth Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 70.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,947 shares of the company’s stock after purchasing an additional 805 shares during the quarter. MGB Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,503,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LLY. AMF Tjanstepension AB boosted its position in shares of Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after buying an additional 176,552 shares during the period. Values Added Financial LLC raised its holdings in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock valued at $324,000 after buying an additional 17 shares during the period. Wedge Capital Management L L P NC lifted its stake in Eli Lilly and Company by 3.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after acquiring an additional 29 shares in the last quarter. PFG Advisors boosted its holdings in Eli Lilly and Company by 1.6% during the 3rd quarter. PFG Advisors now owns 3,417 shares of the company’s stock valued at $3,027,000 after acquiring an additional 53 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Eli Lilly and Company by 4.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 305 shares of the company’s stock valued at $270,000 after acquiring an additional 14 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.0 %

Shares of Eli Lilly and Company stock opened at $872.81 on Friday. 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 company has a fifty day simple moving average of $793.14 and a 200-day simple moving average of $844.15. The stock has a market cap of $828.58 billion, a price-to-earnings ratio of 74.54, a PEG ratio of 1.87 and a beta of 0.42. 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 issued 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 return on equity of 86.26% and a net margin of 23.51%. On average, equities analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

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 given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 44.41%.

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

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Sanford C. Bernstein started 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. Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Barclays lowered their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, 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.