Snider Financial Group Buys 184 Shares of Eli Lilly and Company (NYSE:LLY)

Snider Financial Group lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,878 shares of the company’s stock after buying an additional 184 shares during the quarter. Eli Lilly and Company makes up approximately 2.8% of Snider Financial Group’s portfolio, making the stock its 9th biggest position. Snider Financial Group’s holdings in Eli Lilly and Company were worth $9,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LLY. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at approximately $30,000. Highline Wealth Partners LLC increased its stake in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. FPC Investment Advisory Inc. lifted its position in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Finally, Hara Capital LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on LLY shares. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Stock Down 2.0 %

LLY stock opened at $910.92 on Wednesday. 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’s 50-day moving average price is $819.86 and its 200 day moving average price is $848.03. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a market cap of $863.70 billion, a P/E ratio of 77.79, a P/E/G ratio of 1.40 and a beta of 0.42.

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 analysts’ consensus estimates 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, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has authorized 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 purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 51.24%.

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.