Waterway Wealth Management LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Waterway Wealth Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 50.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447 shares of the company’s stock after selling 460 shares during the period. Waterway Wealth Management LLC’s holdings in Eli Lilly and Company were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LLY. AMF Tjanstepension AB lifted its position in Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares during the period. Values Added Financial LLC grew its position in shares of Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after buying an additional 17 shares during the period. Pursue Wealth Partners LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $364,000. Lodestar Private Asset Management LLC increased its stake in shares of Eli Lilly and Company by 17.6% in the 3rd quarter. Lodestar Private Asset Management LLC now owns 1,003 shares of the company’s stock worth $888,000 after acquiring an additional 150 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in Eli Lilly and Company by 2.7% during the 3rd quarter. Highview Capital Management LLC DE now owns 6,763 shares of the company’s stock valued at $5,992,000 after acquiring an additional 181 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Down 1.1 %

Shares of LLY stock opened at $904.76 on Friday. 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 stock has a market cap of $857.87 billion, a P/E ratio of 77.26, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a 50 day simple moving average of $811.83 and a two-hundred day simple moving average of $848.85.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share 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. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.66%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 51.24%.

Eli Lilly and Company declared that its Board of Directors has initiated a share buyback plan on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.