Eli Lilly and Company (NYSE:LLY) Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 1.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,757 shares of the company’s stock after selling 47 shares during the period. Angeles Wealth Management LLC’s holdings in Eli Lilly and Company were worth $3,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. International Assets Investment Management LLC raised its position in shares of Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after buying an additional 1,021,287 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in Eli Lilly and Company by 37,140.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 694,167 shares of the company’s stock worth $614,990,000 after acquiring an additional 692,303 shares during the period. Strategic Financial Concepts LLC raised its holdings in Eli Lilly and Company by 126,531.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 678,745 shares of the company’s stock valued at $523,991,000 after acquiring an additional 678,209 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Eli Lilly and Company by 100.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,165,696 shares of the company’s stock worth $1,032,737,000 after purchasing an additional 584,866 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 1.1 %

Shares of NYSE:LLY opened at $868.57 on Tuesday. The company has a market capitalization 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 company has a 50 day moving average of $789.87 and a two-hundred day moving average of $843.19. Eli Lilly and Company has a 52-week low of $711.40 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 released its quarterly 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 net margin of 23.51% and a return on equity of 86.26%. As a group, analysts forecast that Eli Lilly and Company will post 23.33 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has authorized a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership 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. Investors of record on Friday, February 14th will be paid a $1.50 dividend. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s payout ratio is 44.41%.

Analyst Ratings Changes

Several research firms recently commented on LLY. Wells Fargo & Company dropped 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. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Wolfe Research started 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 target price on the stock. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Four 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 stock currently has an average 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.