Whalen Wealth Management Inc. Trims Position in Eli Lilly and Company (NYSE:LLY)

Whalen Wealth Management Inc. decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 28.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,024 shares of the company’s stock after selling 398 shares during the period. Whalen Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $790,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LLY. Beck Bode LLC bought a new position in Eli Lilly and Company in the second quarter worth $15,036,000. Dark Forest Capital Management LP purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $534,000. Beaird Harris Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares in the last quarter. Comerica Bank lifted its position in Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. Finally, Ninepoint Partners LP bought a new stake in Eli Lilly and Company during the second quarter worth about $99,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY stock opened at $784.78 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $624.68 and a 1 year high of $972.53. The company has a market cap of $745.01 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The stock’s fifty day moving average price is $776.69 and its 200-day moving average price is $849.41.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 12.98 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a share repurchase program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are 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 given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LLY shares. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Four 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

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.