Smith Salley Wealth Management Sells 26 Shares of Eli Lilly and Company (NYSE:LLY)

Smith Salley Wealth Management trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,605 shares of the company’s stock after selling 26 shares during the quarter. Smith Salley Wealth Management’s holdings in Eli Lilly and Company were worth $1,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the period. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock valued at $41,000 after purchasing an additional 24,879 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Down 4.1 %

Shares of Eli Lilly and Company stock opened at $726.24 on Monday. Eli Lilly and Company has a 12-month low of $612.70 and a 12-month high of $972.53. The stock has a market cap of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business’s 50 day moving average is $781.14 and its 200-day moving average is $854.35.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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 represents a $6.00 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research initiated coverage on Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.