Granite Bay Wealth Management LLC Acquires Shares of 340 Eli Lilly and Company (NYSE:LLY)

Granite Bay Wealth Management LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 340 shares of the company’s stock, valued at approximately $262,000.

A number of other hedge funds also recently modified their holdings of LLY. Quilter Plc grew its stake in shares of Eli Lilly and Company by 9.9% in the second quarter. Quilter Plc now owns 8,888 shares of the company’s stock valued at $8,047,000 after acquiring an additional 800 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Eli Lilly and Company by 16.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 18,660 shares of the company’s stock valued at $16,894,000 after acquiring an additional 2,599 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth $12,866,000. Angeles Investment Advisors LLC increased its position in shares of Eli Lilly and Company by 61.5% in the second quarter. Angeles Investment Advisors LLC now owns 1,085 shares of the company’s stock worth $982,000 after purchasing an additional 413 shares during the period. Finally, Black Diamond Financial LLC raised its stake in Eli Lilly and Company by 41.1% in the second quarter. Black Diamond Financial LLC now owns 1,522 shares of the company’s stock valued at $1,378,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays dropped their price objective on 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. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Down 0.3 %

Shares of NYSE LLY opened at $797.17 on Tuesday. The firm has a 50 day moving average price of $785.91 and a two-hundred day moving average price of $858.62. The stock has a market cap of $756.77 billion, a P/E ratio of 86.18, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. As a group, equities analysts forecast that Eli Lilly and Company will post 13.18 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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 shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.