MFA Wealth Services Purchases Eli Lilly Shares

MFA Wealth Services has recently acquired a new position in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to their latest submission to the Securities and Exchange Commission (SEC). The fund added 1,384 shares of Eli Lilly stock, which is valued at approximately $1,068,000.

Additionally, several other institutional investors have altered their stake in Eli Lilly. Beaird Harris Wealth Management LLC increased its holdings in the company's shares by 2.2% in the second quarter. They now hold a total of 512 shares, valued at $464,000, after acquiring 11 more shares in the past quarter. Similarly, Summit Financial Strategies Inc. also raised its position by 0.5% in the third quarter, bringing their total to 2,105 shares worth $1,865,000 after adding 11 shares. Prio Wealth Limited Partnership made a similar adjustment, growing its stake by 0.5% to own 2,411 shares valued at $2,136,000 after the purchase of 11 shares. First Community Trust NA increased its holdings in Eli Lilly by 4.9% in the third quarter, owning now 257 shares worth $228,000 after purchasing 12 additional shares. Furthermore, Hummer Financial Advisory Services Inc. raised its position by 1.0% during the same period, owning 1,271 shares now valued at $1,126,000 after buying an additional 12 shares. It is notable that institutional investors and hedge funds control approximately 82.53% of the shares of the company.

Recent Analyst Ratings

In the realm of analyst ratings, several financial research firms have provided their insights on Eli Lilly stock. Wolfe Research initiated coverage on the shares, assigning an "outperform" rating along with a target price of $1,000. Barclays reviewed the company, reducing its price target from $1,025 to $975 while maintaining an "overweight" rating. Bank of America kept its "buy" rating intact and set a target of $997. StockNews.com improved Eli Lilly's rating from "hold" to "buy". Furthermore, Citigroup elevated its price target from $1,060 to $1,250, affirming a "buy" stance. Overall, MarketBeat.com indicates that the stock has an average rating of "Moderate Buy" with an average target price of $1,002.22, with four analysts suggesting a hold and eighteen recommending a buy.

Insider Trading Activity

Involving insider trading, recent activities were noted with CAO Donald A. Zakrowski selling 900 shares on November 8. These shares were sold at an average price of $803.38, totaling $723,042. Following this transaction, he owns 5,480 shares valued at around $4,402,522.40, representing a 14.11% dip in his stock ownership. According to SEC filings, only 0.13% of Eli Lilly's shares are owned by company insiders.

Eli Lilly's Stock Performance

The stock of Eli Lilly was reported at $784.78 at the opening on Friday. The company has a 50-day moving average of $776.69 and a 200-day moving average standing at $849.41. Its trading history reveals a one-year low of $624.68 and a one-year high of $972.53. Eli Lilly boasts a significant market capitalization of $745.01 billion, with a P/E ratio of 84.84 and a price-to-earnings growth ratio of 1.59. The company's current ratio stands at 1.27, quick ratio at 0.97, and debt-to-equity ratio at 2.03.

In its most recent earnings report issued on October 30, Eli Lilly announced an EPS of $1.18 for the quarter, which was below the analysts' expected consensus of $1.52 by $0.34. The firm reported revenue of $11.44 billion, which also fell short of the predicted $12.09 billion. However, Eli Lilly's quarterly revenue showed a 20.4% increase year-over-year, and the company experienced a net margin of 20.48% alongside a return on equity of 71.08%. Predictions indicate that the company will reach an EPS of 12.98 for the current fiscal year.

Dividend Increase and Share Repurchase Program

In further developments, Eli Lilly declared a quarterly dividend, set to be disbursed on March 10. Shareholders on record as of February 14 will receive a $1.50 dividend, representing an annualized dividend of $6.00 with a yield of 0.76%. This marks an increase from the previous quarterly dividend of $1.30, and the company's dividend payout ratio currently stands at 56.22%. Moreover, Eli Lilly's Board of Directors sanctioned a significant share buyback program on December 9, allowing the company to repurchase up to $15.00 billion worth of shares. This move signals a belief among the board that the company's shares may currently be undervalued.

About Eli Lilly and Company

Founded in the 19th century, Eli Lilly and Company is a global pharmaceutical company dedicated to discovering, developing, and marketing medications across various therapeutic areas, especially in diabetes care. Its product offerings for diabetes include Basaglar, Humalog, and Trulicity, among others that treat various conditions such as obesity.

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