Centricity Wealth Management LLC Takes $638,000 Position in Eli Lilly and Company (NYSE:LLY)

Centricity Wealth Management LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 826 shares of the company’s stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Inscription Capital LLC grew its stake in shares of Eli Lilly and Company by 1.0% during the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares during the last quarter. PSI Advisors LLC grew its position in shares of Eli Lilly and Company by 0.4% during the 3rd quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock worth $2,576,000 after buying an additional 13 shares during the period. Boston Financial Mangement LLC increased its stake in shares of Eli Lilly and Company by 0.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 5,020 shares of the company’s stock valued at $4,447,000 after acquiring an additional 13 shares during the last quarter. Finally, Key Financial Inc increased its stake in shares of Eli Lilly and Company by 1.5% in the 3rd quarter. Key Financial Inc now owns 883 shares of the company’s stock valued at $782,000 after acquiring an additional 13 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for 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 research note on Monday, November 4th. Finally, Wells Fargo & Company decreased their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $874.12 on Friday. The stock has a market capitalization of $829.82 billion, a PE ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The firm has a fifty day simple moving average of $801.33 and a 200 day simple moving average of $846.75. 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 (NYSE:LLY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 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 86.26%. On average, research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has authorized a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and 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.