Modus Advisors LLC Buys 321 Shares of Eli Lilly and Company (NYSE:LLY)

Modus Advisors LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 67.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 800 shares of the company’s stock after purchasing an additional 321 shares during the period. Modus Advisors LLC’s holdings in Eli Lilly and Company were worth $618,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Lantz Financial LLC grew its position in Eli Lilly and Company by 1.3% during the 2nd quarter. Lantz Financial LLC now owns 1,236 shares of the company’s stock valued at $1,119,000 after purchasing an additional 16 shares during the last quarter. Fiera Capital Corp increased its position in shares of Eli Lilly and Company by 35.3% during the second quarter. Fiera Capital Corp now owns 22,648 shares of the company’s stock valued at $20,505,000 after acquiring an additional 5,908 shares in the last quarter. PACK Private Wealth LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $203,000. Vance Wealth Inc. lifted its position in Eli Lilly and Company by 12.8% in the 2nd quarter. Vance Wealth Inc. now owns 450 shares of the company’s stock valued at $407,000 after acquiring an additional 51 shares in the last quarter. Finally, Birchcreek Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 2.2% in the second quarter. Birchcreek Wealth Management LLC now owns 2,188 shares of the company’s stock worth $1,981,000 after purchasing an additional 48 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Citigroup upped their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Stock Down 0.0 %

LLY traded down $0.18 on Friday, hitting $777.89. The company had a trading volume of 314,842 shares, compared to its average volume of 1,094,825. The stock has a market capitalization of $738.46 billion, a price-to-earnings ratio of 84.10, a P/E/G ratio of 2.99 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day moving average price of $796.03 and a 200-day moving average price of $864.45. Eli Lilly and Company has a 12-month low of $609.59 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.09 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. 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 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is 64.86%.

Eli Lilly and Company announced that its board has initiated a share repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’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 value of $723,042.00. Following the sale, the chief accounting officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

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.