Bright Futures Wealth Management LLC. Has $242,000 Stake in Eli Lilly and Company (NYSE:LLY)

Bright Futures Wealth Management LLC. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 80.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 301 shares of the company’s stock after selling 1,268 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Eli Lilly and Company were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Prio Wealth Limited Partnership raised its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after acquiring an additional 11 shares during the period. James Hambro & Partners LLP raised its holdings in shares of Eli Lilly and Company by 3.7% during the third quarter. James Hambro & Partners LLP now owns 340 shares of the company’s stock worth $301,000 after acquiring an additional 12 shares during the period. Inscription Capital LLC raised its holdings in shares of Eli Lilly and Company by 1.0% during the third quarter. Inscription Capital LLC now owns 1,222 shares of the company’s stock worth $1,083,000 after acquiring an additional 12 shares during the period. Garner Asset Management Corp raised its holdings in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after acquiring an additional 12 shares during the period. Finally, Detalus Advisors LLC raised its holdings in shares of Eli Lilly and Company by 1.7% during the third quarter. Detalus Advisors LLC now owns 798 shares of the company’s stock worth $707,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company lowered 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 equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $844.82 on Friday. 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 company has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53. The firm has a 50-day moving average price of $794.07 and a two-hundred day moving average price of $844.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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%. Analysts anticipate 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 given a $1.50 dividend. The ex-dividend date is Friday, February 14th. 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 0.71%. Eli Lilly and Company’s payout ratio is presently 44.41%.

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 repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are 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.