Aspiring Ventures LLC Purchases Shares of 351 Eli Lilly and Company (NYSE:LLY)

Aspiring Ventures LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 351 shares of the company’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Driehaus Capital Management LLC grew its position in shares of Eli Lilly and Company by 94.2% during the second quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock valued at $1,480,000 after purchasing an additional 793 shares in the last quarter. Aviso Wealth Management boosted its stake in Eli Lilly and Company by 3.8% during the second quarter. Aviso Wealth Management now owns 2,139 shares of the company’s stock valued at $1,936,000 after buying an additional 79 shares during the last quarter. Algert Global LLC increased its stake in Eli Lilly and Company by 27.9% in the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after acquiring an additional 110 shares during the last quarter. Creative Planning raised its holdings in shares of Eli Lilly and Company by 4.1% during the 2nd quarter. Creative Planning now owns 228,675 shares of the company’s stock worth $207,038,000 after acquiring an additional 9,007 shares in the last quarter. Finally, Doheny Asset Management CA boosted its position in shares of Eli Lilly and Company by 0.6% during the 2nd quarter. Doheny Asset Management CA now owns 3,880 shares of the company’s stock valued at $3,513,000 after acquiring an additional 24 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.4 %

Shares of NYSE:LLY opened at $784.78 on Monday. The business’s 50 day moving average is $776.69 and its 200 day moving average is $848.83. The stock has a market cap of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $624.68 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts predict that Eli Lilly and Company will post 12.98 EPS for the current year.

Eli Lilly and Company declared that its board has initiated a stock repurchase plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes 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 of directors believes its shares are 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 issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 56.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LLY shares. Bank of America reaffirmed a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. 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 target price on the stock. Wolfe Research initiated 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 target for the company. Deutsche Bank Aktiengesellschaft reduced 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, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

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.