Angeles Wealth Management LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Angeles Wealth Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. Liberty Capital Management Inc. boosted its stake in shares of Eli Lilly and Company by 4.7% in the 4th quarter. Liberty Capital Management Inc. now owns 2,250 shares of the company’s stock valued at $1,737,000 after buying an additional 100 shares during the period. LJI Wealth Management LLC raised its holdings in Eli Lilly and Company by 1.8% in the fourth quarter. LJI Wealth Management LLC now owns 7,131 shares of the company’s stock valued at $5,505,000 after acquiring an additional 127 shares in the last quarter. HTLF Bank lifted its stake in Eli Lilly and Company by 7.3% in the fourth quarter. HTLF Bank now owns 828 shares of the company’s stock worth $639,000 after acquiring an additional 56 shares during the last quarter. Tevis Investment Management grew its holdings in Eli Lilly and Company by 62.8% during the 4th quarter. Tevis Investment Management now owns 1,506 shares of the company’s stock worth $1,163,000 after acquiring an additional 581 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Eli Lilly and Company by 37.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,855 shares of the company’s stock valued at $7,965,000 after purchasing an additional 2,660 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $868.57 on Tuesday. The business’s 50-day moving average price is $789.87 and its 200 day moving average price is $843.19. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a market cap of $824.55 billion, a P/E ratio of 74.17, a P/E/G ratio of 1.87 and a beta of 0.42. 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 released its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) 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%. On average, equities research analysts expect that Eli Lilly and Company will post 23.33 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. 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. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio (DPR) is 44.41%.

Eli Lilly and Company declared that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on LLY. Wells Fargo & Company decreased their price objective 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. Citigroup lowered their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Truist Financial boosted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, 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 target on the stock. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.