Eli Lilly and Company (NYSE:LLY) Shares Purchased by Narwhal Capital Management

Narwhal Capital Management raised its position in Eli Lilly and Company (NYSE:LLY) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,456 shares of the company’s stock after purchasing an additional 1,053 shares during the quarter. Eli Lilly and Company accounts for approximately 1.5% of Narwhal Capital Management’s portfolio, making the stock its 15th largest holding. Narwhal Capital Management’s holdings in Eli Lilly and Company were worth $17,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the period. Finally, 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 worth $41,000 after acquiring an additional 24,879 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. 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. Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $997.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $804.87 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a 50-day simple moving average of $778.30 and a 200 day simple moving average of $847.30. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. The company has a market cap of $764.08 billion, a PE ratio of 87.01, a P/E/G ratio of 1.59 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.75%. Eli Lilly and Company’s 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.