Sound View Wealth Advisors Group LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sound View Wealth Advisors Group LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,417 shares of the company’s stock after purchasing an additional 1,853 shares during the period. Eli Lilly and Company accounts for approximately 1.8% of Sound View Wealth Advisors Group LLC’s holdings, making the stock its 8th biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Eli Lilly and Company were worth $22,710,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LLY. Principal Financial Group Inc. raised its position in shares of Eli Lilly and Company by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,208,545 shares of the company’s stock valued at $1,070,698,000 after acquiring an additional 60,306 shares during the period. Fiera Capital Corp raised its holdings in Eli Lilly and Company by 2.3% during the 3rd quarter. Fiera Capital Corp now owns 23,172 shares of the company’s stock worth $20,529,000 after buying an additional 524 shares during the period. Leavell Investment Management Inc. raised its holdings in Eli Lilly and Company by 2.1% during the 3rd quarter. Leavell Investment Management Inc. now owns 6,130 shares of the company’s stock worth $5,431,000 after buying an additional 124 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its holdings in Eli Lilly and Company by 0.9% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 78,186 shares of the company’s stock worth $69,221,000 after buying an additional 709 shares during the period. Finally, Equitable Trust Co. raised its holdings in Eli Lilly and Company by 0.3% during the 3rd quarter. Equitable Trust Co. now owns 8,540 shares of the company’s stock worth $7,566,000 after buying an additional 26 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 4.8 %

LLY stock opened at $868.59 on Friday. The stock has a market capitalization of $823.57 billion, a P/E ratio of 74.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The firm has a 50-day moving average price of $826.63 and a 200-day moving average price of $847.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given 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 is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research report on Friday, January 17th. Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three 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.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,007.50.

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.