Eli Lilly and Company (NYSE:LLY) Shares Sold by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,638 shares of the company’s stock after selling 25 shares during the period. Stockman Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quotient Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 4.8% in the fourth quarter. Quotient Wealth Partners LLC now owns 3,154 shares of the company’s stock valued at $2,435,000 after purchasing an additional 145 shares during the period. Northeast Investment Management boosted its holdings in Eli Lilly and Company by 4.3% in the 4th quarter. Northeast Investment Management now owns 53,478 shares of the company’s stock valued at $41,285,000 after purchasing an additional 2,226 shares during the last quarter. Summit Wealth & Retirement Planning Inc. grew its stake in shares of Eli Lilly and Company by 84.5% in the 4th quarter. Summit Wealth & Retirement Planning Inc. now owns 546 shares of the company’s stock valued at $422,000 after buying an additional 250 shares during the period. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Eli Lilly and Company by 8.1% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 322 shares of the company’s stock worth $248,000 after buying an additional 24 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Eli Lilly and Company by 26.0% during the 4th quarter. WCM Investment Management LLC now owns 16,705 shares of the company’s stock valued at $12,927,000 after buying an additional 3,445 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $868.57 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market cap of $824.55 billion, a price-to-earnings ratio of 74.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The stock’s 50-day moving average is $789.87 and its two-hundred day moving average is $843.19. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost 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 of this dividend is Friday, February 14th. Eli Lilly and Company’s payout ratio is 44.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. 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 report on Tuesday, January 28th. Barclays lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $997.50.

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.