Global Wealth Management Investment Advisory Inc. Has $4.78 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 6,191 shares of the company’s stock after acquiring an additional 52 shares during the period. Eli Lilly and Company makes up 1.0% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 29th biggest position. Global Wealth Management Investment Advisory Inc.’s holdings in Eli Lilly and Company were worth $4,779,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its position in shares of Eli Lilly and Company by 113.7% during the third 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 raised its position in Eli Lilly and Company by 4.9% in 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 during the last quarter. Novare Capital Management LLC lifted its holdings in Eli Lilly and Company by 74.5% during the 3rd quarter. Novare Capital Management LLC now owns 527 shares of the company’s stock worth $467,000 after buying an additional 225 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Eli Lilly and Company by 3.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock valued at $776,000 after buying an additional 29 shares during the last quarter. Finally, Iams Wealth Management LLC boosted its position in Eli Lilly and Company by 21.8% in the 3rd quarter. Iams Wealth Management LLC now owns 536 shares of the company’s stock valued at $475,000 after buying an additional 96 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $865.13 on Wednesday. The stock has a 50 day simple moving average of $791.24 and a 200 day simple moving average of $843.52. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market capitalization of $821.28 billion, a PE ratio of 73.88, a P/E/G ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company 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. This represents a $6.00 dividend on an annualized basis and a 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 44.41%.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LLY shares. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Bank of America restated 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, Barclays reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

About Eli Lilly and Company

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.