Philip James Wealth Mangement LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Philip James Wealth Mangement LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,195 shares of the company’s stock after selling 599 shares during the period. Philip James Wealth Mangement LLC’s holdings in Eli Lilly and Company were worth $4,782,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LLY. Strategic Advisors LLC increased its holdings in shares of Eli Lilly and Company by 8.9% during the fourth quarter. Strategic Advisors LLC now owns 1,779 shares of the company’s stock valued at $1,373,000 after acquiring an additional 146 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $389,000. J.W. Cole Advisors Inc. increased its stake in Eli Lilly and Company by 3.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 9,848 shares of the company’s stock valued at $7,603,000 after purchasing an additional 300 shares in the last quarter. Opes Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 33.9% in the fourth quarter. Opes Wealth Management LLC now owns 316 shares of the company’s stock worth $244,000 after buying an additional 80 shares during the last quarter. Finally, Lee Financial Co lifted its stake in shares of Eli Lilly and Company by 4.8% during the fourth quarter. Lee Financial Co now owns 2,417 shares of the company’s stock worth $1,866,000 after buying an additional 110 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 3.1 %

Eli Lilly and Company stock opened at $844.82 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $802.01 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42. The business has a 50 day simple moving average of $794.44 and a 200-day simple moving average of $845.27. 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 posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. On average, analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is 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. 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 0.71%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is 44.41%.

Analyst Ratings Changes

LLY has been the subject of a number of research analyst reports. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America reaffirmed a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price target 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 report on Monday, November 4th. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $997.50.

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.