Heritage Wealth Management Inc. Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Heritage Wealth Management Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,862 shares of the company’s stock after selling 152 shares during the quarter. Eli Lilly and Company comprises approximately 2.5% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Heritage Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $7,613,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LLY. Sherman Asset Management Inc. acquired a new position in Eli Lilly and Company during the fourth quarter worth $4,644,000. John G Ullman & Associates Inc. increased its holdings in Eli Lilly and Company by 0.9% during the fourth quarter. John G Ullman & Associates Inc. now owns 2,934 shares of the company’s stock worth $2,265,000 after buying an additional 26 shares during the last quarter. Onefund LLC increased its holdings in Eli Lilly and Company by 3.4% during the fourth quarter. Onefund LLC now owns 2,139 shares of the company’s stock worth $1,651,000 after buying an additional 70 shares during the last quarter. Nixon Peabody Trust Co. increased its holdings in Eli Lilly and Company by 345.2% during the fourth quarter. Nixon Peabody Trust Co. now owns 10,479 shares of the company’s stock worth $8,090,000 after buying an additional 8,125 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its holdings in Eli Lilly and Company by 117.0% during the fourth quarter. Prudent Man Advisors LLC now owns 677 shares of the company’s stock worth $523,000 after buying an additional 365 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of 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. Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Up 1.7 %

LLY stock opened at $920.44 on Friday. The firm has a 50-day moving average price of $814.88 and a 200-day moving average price of $848.69. The stock has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. 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 (NYSE:LLY) last issued 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 85.24%. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.65%. 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. 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 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 generally an indication that the company’s board of directors believes its shares are 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.