Evanson Asset Management LLC Has $1.14 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Evanson Asset Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,476 shares of the company’s stock after selling 29 shares during the quarter. Evanson Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,139,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the third quarter valued at $30,000. Highline Wealth Partners LLC raised its stake 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 valued at $35,000 after purchasing an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the third quarter valued at $58,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Redburn Atlantic upgraded 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 Wednesday, January 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on 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. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,002.22.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $726.24 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. 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 price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The business’s 50-day simple moving average is $781.14 and its 200 day simple moving average is $854.04.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the business posted $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company announced that its board has approved a share buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.