Eli Lilly and Company (NYSE:LLY) Shares Acquired by JCIC Asset Management Inc.

JCIC Asset Management Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,272 shares of the company’s stock after purchasing an additional 56 shares during the period. Eli Lilly and Company makes up approximately 1.3% of JCIC Asset Management Inc.’s holdings, making the stock its 25th biggest holding. JCIC Asset Management Inc.’s holdings in Eli Lilly and Company were worth $3,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC boosted its position in 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 buying an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Eli Lilly and Company by 117.1% during the third 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 last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE LLY traded up $1.82 on Monday, reaching $801.72. 2,260,002 shares of the stock traded hands, compared to its average volume of 2,978,487. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The company has a market cap of $761.09 billion, a price-to-earnings ratio of 86.67, a P/E/G ratio of 2.99 and a beta of 0.41. The firm’s fifty day simple moving average is $786.08 and its 200 day simple moving average is $859.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has approved 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are 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 dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. 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 0.75%. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LLY shares. Wolfe Research initiated coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.