Lifeworks Advisors LLC Acquires 975 Shares of Eli Lilly and Company (NYSE:LLY)

Lifeworks Advisors LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,154 shares of the company’s stock after purchasing an additional 975 shares during the period. Eli Lilly and Company accounts for approximately 1.1% of Lifeworks Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Lifeworks Advisors LLC’s holdings in Eli Lilly and Company were worth $6,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. Integrated Investment Consultants LLC boosted its stake in shares of Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock valued at $614,990,000 after purchasing an additional 692,303 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Eli Lilly and Company by 126,531.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock worth $523,991,000 after buying an additional 678,209 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in Eli Lilly and Company by 599.9% during the third quarter. Mizuho Securities USA LLC now owns 430,853 shares of the company’s stock worth $381,710,000 after buying an additional 369,293 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $868.59 on Friday. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $826.63 and a 200-day moving average price of $848.68. The company has a market cap of $823.57 billion, a PE 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 issued 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%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board 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 generally an indication 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. Investors of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 51.24%.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Citigroup cut their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, 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. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.50.

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.