Capital Wealth Planning LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Capital Wealth Planning LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,027 shares of the company’s stock after selling 695 shares during the period. Capital Wealth Planning LLC’s holdings in Eli Lilly and Company were worth $5,457,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in Eli Lilly and Company during the 1st quarter valued at approximately $932,797,000. Vanguard Group Inc. raised its position in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. GQG Partners LLC raised its position in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Capital International Investors raised its position in Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the completion of the sale, the insider now directly owns 97,574,139 shares in the company, valued at approximately $88,077,248,051.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 451,900 shares of company stock worth $418,732,178 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $923.71 on Monday. The stock has a 50-day moving average of $897.12 and a two-hundred day moving average of $833.89. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a market cap of $877.92 billion, a P/E ratio of 136.04, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.