Modera Wealth Management LLC Sells 1,686 Shares of Eli Lilly and Company (NYSE:LLY)

Modera Wealth Management LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,450 shares of the company’s stock after selling 1,686 shares during the quarter. Modera Wealth Management LLC’s holdings in Eli Lilly and Company were worth $39,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock worth $15,089,563,000 after purchasing an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after purchasing an additional 157,741 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Eli Lilly and Company by 3.5% during the 4th quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock worth $4,042,276,000 after purchasing an additional 178,007 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Eli Lilly and Company by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after buying an additional 12,044 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LLY shares. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. 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 for the company in a research note on Tuesday, January 28th. Bank of America reiterated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. 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 for the company in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,000.28.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $920.44 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $872.73 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.40 and a beta of 0.42. The company has a fifty day moving average of $814.88 and a 200-day moving average of $848.69. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 85.24% and a net margin of 23.51%. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.65%. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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.