Walter & Keenan Wealth Management LLC IN ADV Sells 900 Shares of Eli Lilly and Company (NYSE:LLY)

Walter & Keenan Wealth Management LLC IN ADV trimmed its position in Eli Lilly and Company (NYSE:LLY) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,588 shares of the company’s stock after selling 900 shares during the period. Eli Lilly and Company comprises about 5.7% of Walter & Keenan Wealth Management LLC IN ADV’s portfolio, making the stock its 2nd largest holding. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Eli Lilly and Company were worth $18,983,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LLY. Soltis Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company by 218.9% during the fourth quarter. Soltis Investment Advisors LLC now owns 4,005 shares of the company’s stock worth $3,092,000 after buying an additional 2,749 shares in the last quarter. Quilter Plc lifted its stake in shares of Eli Lilly and Company by 26.4% in the fourth quarter. Quilter Plc now owns 14,353 shares of the company’s stock worth $11,081,000 after buying an additional 2,997 shares in the last quarter. Silicon Valley Capital Partners boosted its position in Eli Lilly and Company by 4,959.0% during the fourth quarter. Silicon Valley Capital Partners now owns 12,091 shares of the company’s stock worth $9,334,000 after acquiring an additional 11,852 shares during the last quarter. Opal Wealth Advisors LLC grew its stake in Eli Lilly and Company by 10.9% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,016 shares of the company’s stock valued at $784,000 after acquiring an additional 100 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $237,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LLY shares. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Barclays dropped their target price 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. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $865.13 on Wednesday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a 50 day moving average price of $791.24 and a 200 day moving average price of $843.52. The stock has a market capitalization of $821.28 billion, a P/E ratio of 73.88, a PEG ratio of 1.87 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 return on equity of 86.26% and a net margin of 23.51%. Equities research analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently declared 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 represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

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.