Iams Wealth Management LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Iams Wealth Management LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 39.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 323 shares of the company’s stock after selling 213 shares during the quarter. Iams Wealth Management LLC’s holdings in Eli Lilly and Company were worth $249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC increased its position in Eli Lilly and Company by 27.9% during the 2nd quarter. Algert Global LLC now owns 504 shares of the company’s stock worth $456,000 after purchasing an additional 110 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Eli Lilly and Company by 113.7% in the 3rd quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after acquiring an additional 176,552 shares during the period. Czech National Bank raised its stake in shares of Eli Lilly and Company by 5.6% in the 3rd quarter. Czech National Bank now owns 160,697 shares of the company’s stock valued at $142,368,000 after acquiring an additional 8,566 shares during the period. Unique Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 303.7% during the 3rd quarter. Unique Wealth LLC now owns 1,401 shares of the company’s stock valued at $1,241,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its position in Eli Lilly and Company by 24.1% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 8,332 shares of the company’s stock worth $7,382,000 after purchasing an additional 1,620 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LLY shares. Wells Fargo & Company reduced their price objective on 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. StockNews.com cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Wolfe Research started coverage on shares of 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. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $997.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $811.61 on Friday. The company has a market cap of $770.48 billion, a PE ratio of 87.74, a P/E/G ratio of 1.71 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $637.00 and a fifty-two week high of $972.53. The firm has a 50-day simple moving average of $782.29 and a 200 day simple moving average of $845.82. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 12.85 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced 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 is Friday, February 14th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Eli Lilly and Company

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

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.