Naviter Wealth LLC Purchases 4,525 Shares of Eli Lilly and Company (NYSE:LLY)

Naviter Wealth LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 82.4% during the 4th quarter, Holdings Channel reports. The firm owned 10,019 shares of the company’s stock after purchasing an additional 4,525 shares during the period. Eli Lilly and Company makes up approximately 0.9% of Naviter Wealth LLC’s portfolio, making the stock its 20th biggest position. Naviter Wealth LLC’s holdings in Eli Lilly and Company were worth $7,734,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. FPC Investment Advisory Inc. raised its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Finally, Hara Capital LLC bought a new position in Eli Lilly and Company during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LLY shares. 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 for the company in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Finally, Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.50.

Eli Lilly and Company Stock Down 4.8 %

Eli Lilly and Company stock opened at $868.59 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a fifty day simple moving average of $826.63 and a 200 day simple moving average of $848.68. The company has a market cap of $823.57 billion, a P/E ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. Research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

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

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.