Philip James Wealth Mangement LLC Sells 599 Shares of Eli Lilly and Company (NYSE:LLY)

Philip James Wealth Mangement LLC decreased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,195 shares of the company's stock after selling 599 shares during the quarter. Philip James Wealth Mangement LLC's holdings in Eli Lilly and Company were worth $4,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $30,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after buying an additional 20 shares during the last quarter. Hara Capital LLC acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $58,000. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Redburn Atlantic raised shares of Eli Lilly and Company to a "hold" rating in a report on Monday, November 4th. Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Citigroup cut their price target 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 report on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Truist Financial raised their price objective 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 report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 0.1 %

Shares of LLY stock traded up $1.00 during trading on Friday, reaching $874.12. The company's stock had a trading volume of 3,937,537 shares, compared to its average volume of 3,765,032. The business has a fifty day moving average price of $801.33 and a 200-day moving average price of $846.75. 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 cap of $829.82 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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 return on equity of 86.26% and a net margin of 23.51%. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.50 dividend. 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 dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's payout ratio is currently 51.24%.

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.