TruWealth Advisors LLC Sells 1,645 Shares of Eli Lilly and Company (NYSE:LLY)

TruWealth Advisors LLC lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,231 shares of the company's stock after selling 1,645 shares during the quarter. Eli Lilly and Company makes up about 1.5% of TruWealth Advisors LLC's investment portfolio, making the stock its 22nd largest holding. TruWealth Advisors LLC's holdings in Eli Lilly and Company were worth $24,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at about $30,000. Highline Wealth Partners LLC raised its holdings 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 acquiring an additional 20 shares during the period. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company's stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $58,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $31.36 during mid-day trading on Monday, reaching $726.24. The company had a trading volume of 5,497,108 shares, compared to its average volume of 2,736,766. The company has a market capitalization of $689.43 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company's 50 day simple moving average is $781.14 and its 200 day simple moving average is $854.04. Eli Lilly and Company has a 1-year low of $612.70 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 13.14 EPS for the current year.

Eli Lilly and Company announced that its board has approved a stock buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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 issued a dividend of $1.50 per share. This is an increase from Eli Lilly and Company's previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 56.22%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an "outperform" rating and a $1,100.00 target price on the stock. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an "outperform" rating and a $1,000.00 target price for the company. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Citigroup lifted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average price target of $1,002.22.

Eli Lilly and Company 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.