Capital Wealth Planning LLC Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Capital Wealth Planning LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,112 shares of the company’s stock after selling 1,513 shares during the period. Capital Wealth Planning LLC’s holdings in Eli Lilly and Company were worth $7,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter worth about $30,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after acquiring an additional 24,879 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $920.44 on Friday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average of $814.88 and a 200-day moving average of $848.69. The firm has a market cap of $872.73 billion, a price-to-earnings ratio of 78.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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 85.24%. Analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. 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 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is currently 51.24%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent research reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research report on Friday, January 17th. Truist Financial upped their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,000.28.

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.