Westmount Partners LLC Has $1.60 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Westmount Partners LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,069 shares of the company’s stock after selling 268 shares during the quarter. Westmount Partners LLC’s holdings in Eli Lilly and Company were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LLY. Lyell Wealth Management LP lifted its position in Eli Lilly and Company by 0.7% during the 2nd quarter. Lyell Wealth Management LP now owns 2,481 shares of the company’s stock worth $2,246,000 after buying an additional 18 shares in the last quarter. Vista Capital Partners Inc. lifted its position in Eli Lilly and Company by 5.7% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,069 shares of the company’s stock valued at $968,000 after purchasing an additional 58 shares during the period. Seven Mile Advisory lifted its position in Eli Lilly and Company by 4.0% during the 2nd quarter. Seven Mile Advisory now owns 1,136 shares of the company’s stock valued at $1,028,000 after purchasing an additional 44 shares during the period. Diversify Wealth Management LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $4,067,000. Finally, Wilkins Investment Counsel Inc. lifted its position in Eli Lilly and Company by 8.4% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 3,104 shares of the company’s stock valued at $2,810,000 after purchasing an additional 240 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $4.78 during mid-day trading on Monday, reaching $795.12. The company had a trading volume of 1,767,829 shares, compared to its average volume of 2,921,993. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $612.70 and a one year high of $972.53. The firm has a market cap of $754.82 billion, a price-to-earnings ratio of 85.96, a PEG ratio of 2.99 and a beta of 0.41. The business’s 50-day simple moving average is $786.08 and its 200 day simple moving average is $859.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 64.86%.

Eli Lilly and Company declared that its board has approved a share buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LLY shares. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target 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 note on Monday, November 4th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.