West Oak Capital LLC Lowers Stake in Eli Lilly and Company (NYSE:LLY)

West Oak Capital LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,762 shares of the company’s stock after selling 80 shares during the period. Eli Lilly and Company comprises 1.6% of West Oak Capital LLC’s portfolio, making the stock its 13th largest holding. West Oak Capital LLC’s holdings in Eli Lilly and Company were worth $4,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC grew its stake 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 valued at $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in Eli Lilly and Company by 117.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In related 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 value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $742.80 on Wednesday. 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 stock’s fifty day moving average is $784.63 and its two-hundred day moving average is $857.48. Eli Lilly and Company has a 52 week low of $612.70 and a 52 week high of $972.53. The company has a market capitalization of $705.15 billion, a PE ratio of 80.30, a price-to-earnings-growth ratio of 2.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted 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 company posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current year.

Eli Lilly and Company declared that its board has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend 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 currently 64.86%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LLY shares. Deutsche Bank Aktiengesellschaft cut their price objective on 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. Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wolfe Research assumed coverage on Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.22.

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.