Prentice Wealth Management LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Prentice Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,206 shares of the company’s stock after buying an additional 44 shares during the quarter. Prentice Wealth Management LLC’s holdings in Eli Lilly and Company were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after acquiring an additional 1,021,287 shares during the period. Integrated Investment Consultants LLC raised its stake in Eli Lilly and Company by 37,140.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares during the period. Strategic Financial Concepts LLC lifted its holdings in 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 valued at $523,991,000 after purchasing an additional 678,209 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Eli Lilly and Company by 100.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after purchasing an additional 584,866 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLY. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Truist Financial upped their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Trading Up 0.1 %

LLY opened at $874.12 on Friday. The stock has a 50-day moving average of $801.33 and a 200 day moving average of $846.75. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The firm has a market cap of $829.82 billion, a P/E ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its board has approved 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 purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. 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.