Canvas Wealth Advisors LLC Purchases 96 Shares of Eli Lilly and Company (NYSE:LLY)

Canvas Wealth Advisors LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,512 shares of the company’s stock after buying an additional 96 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,167,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB lifted its holdings in Eli Lilly and Company by 113.7% during the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock worth $293,964,000 after purchasing an additional 176,552 shares in the last quarter. Values Added Financial LLC lifted its holdings in Eli Lilly and Company by 4.9% during the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after purchasing an additional 17 shares in the last quarter. Retirement Planning Group LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $306,000. Carnegie Investment Counsel lifted its holdings in Eli Lilly and Company by 6.7% during the 3rd quarter. Carnegie Investment Counsel now owns 7,268 shares of the company’s stock worth $6,439,000 after purchasing an additional 456 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in Eli Lilly and Company by 2.6% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 64,775 shares of the company’s stock worth $57,387,000 after purchasing an additional 1,614 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $868.57 on Tuesday. The stock’s 50-day moving average is $789.87 and its 200 day moving average is $843.19. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The stock has a market cap of $824.55 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 yield of 0.69%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 44.41%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. 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 on the stock in a report on Monday, November 4th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company lowered their price target on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America reaffirmed a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.