WCM Investment Management LLC Acquires 3,445 Shares of Eli Lilly and Company (NYSE:LLY)

WCM Investment Management LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,705 shares of the company’s stock after purchasing an additional 3,445 shares during the period. WCM Investment Management LLC’s holdings in Eli Lilly and Company were worth $12,927,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP boosted its stake in shares of Eli Lilly and Company by 113.6% during the 4th quarter. Entropy Technologies LP now owns 8,141 shares of the company’s stock worth $6,285,000 after acquiring an additional 4,329 shares in the last quarter. Empowered Funds LLC lifted its holdings in Eli Lilly and Company by 9.6% in the 4th quarter. Empowered Funds LLC now owns 34,841 shares of the company’s stock worth $26,897,000 after purchasing an additional 3,045 shares during the last quarter. Hobart Private Capital LLC boosted its position in Eli Lilly and Company by 50.0% during the fourth quarter. Hobart Private Capital LLC now owns 1,260 shares of the company’s stock worth $973,000 after purchasing an additional 420 shares during the period. Pacific Wealth Strategies Group Inc. grew its holdings in Eli Lilly and Company by 16.9% during the fourth quarter. Pacific Wealth Strategies Group Inc. now owns 345 shares of the company’s stock valued at $266,000 after purchasing an additional 50 shares during the last quarter. Finally, Advisory Resource Group raised its position in shares of Eli Lilly and Company by 12.3% in the fourth quarter. Advisory Resource Group now owns 1,891 shares of the company’s stock valued at $1,460,000 after purchasing an additional 207 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LLY. Citigroup decreased their price objective 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. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America restated a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Barclays dropped their price target on 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. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Up 0.9 %

Shares of LLY opened at $878.09 on Monday. 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 50-day moving average price of $789.87 and a two-hundred day moving average price of $843.31. The stock has a market cap of $833.58 billion, a price-to-earnings ratio of 74.99, a P/E/G ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS 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 86.26%. Equities analysts predict that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued 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 annualized dividend and a dividend yield of 0.68%. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

Eli Lilly and Company declared that its board has approved a share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits 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 leadership believes its shares are undervalued.

About Eli Lilly and Company

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.