Beacon Financial Group Sells 695 Shares of Eli Lilly and Company (NYSE:LLY)

Beacon Financial Group lessened its position in Eli Lilly and Company (NYSE:LLY) by 61.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 428 shares of the company’s stock after selling 695 shares during the period. Beacon Financial Group’s holdings in Eli Lilly and Company were worth $330,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $30,000. Highline Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the period. Finally, Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $50,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.9 %

Shares of NYSE:LLY opened at $872.98 on Thursday. Eli Lilly and Company has a 52-week low of $711.40 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. The company has a market capitalization of $828.74 billion, a P/E ratio of 74.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The company has a 50-day simple moving average of $792.27 and a 200 day simple moving average of $843.94.

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 analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. Sell-side analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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 $1.50 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is presently 44.41%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Barclays dropped their price objective on shares of 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.