Tcfg Wealth Management LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Tcfg Wealth Management LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 630 shares of the company’s stock after selling 30 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Eli Lilly and Company were worth $486,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC boosted its position in 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 purchasing an additional 20 shares in the last quarter. Hara Capital LLC purchased a new stake in Eli Lilly and Company during the third quarter worth $58,000. Finally, Compass Financial Services Inc purchased a new stake in Eli Lilly and Company during the fourth quarter worth $50,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $844.82 on Monday. The firm has a market capitalization of $802.01 billion, a P/E ratio of 72.15, a PEG ratio of 1.87 and a beta of 0.42. The stock has a fifty day moving average price of $794.44 and a 200 day moving average price of $844.98. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its 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 research analysts anticipate that Eli Lilly and Company will post 23.33 earnings per share for the current year.

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

Eli Lilly and Company Increases Dividend

The company 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is 44.41%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays decreased their target price 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. Truist Financial boosted their target price on 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. Wells Fargo & Company decreased their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $997.50.

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.