WESPAC Advisors LLC Sells 1,685 Shares of Eli Lilly and Company (NYSE:LLY)

WESPAC Advisors LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 68.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 774 shares of the company’s stock after selling 1,685 shares during the quarter. WESPAC Advisors LLC’s holdings in Eli Lilly and Company were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealthspire Advisors LLC boosted its stake in Eli Lilly and Company by 23.8% in the 4th quarter. Wealthspire Advisors LLC now owns 8,709 shares of the company’s stock worth $6,724,000 after purchasing an additional 1,672 shares during the period. Cohen Capital Management Inc. boosted its stake in Eli Lilly and Company by 8.7% in the 4th quarter. Cohen Capital Management Inc. now owns 338 shares of the company’s stock worth $261,000 after purchasing an additional 27 shares during the period. Marshall Investment Management LLC bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $2,516,000. LWM Advisory Services LLC boosted its stake in Eli Lilly and Company by 2.4% in the 4th quarter. LWM Advisory Services LLC now owns 1,844 shares of the company’s stock worth $1,424,000 after purchasing an additional 43 shares during the period. Finally, TCW Group Inc. boosted its stake in Eli Lilly and Company by 8.7% in the 4th quarter. TCW Group Inc. now owns 12,589 shares of the company’s stock worth $9,719,000 after purchasing an additional 1,011 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $874.12 on Friday. The stock’s fifty day moving average is $801.33 and its 200 day moving average is $847.13. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The firm has a market capitalization of $828.82 billion, a PE ratio of 74.65, a PEG ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

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 the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently announced 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. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 51.24%.

Analysts Set New Price Targets

Several research analysts have weighed in on LLY shares. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. Bank of America reiterated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered 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 report on Tuesday, January 28th. Finally, Barclays lowered their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.28.

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.