Avidian Wealth Solutions LLC Purchases 664 Shares of Eli Lilly and Company (NYSE:LLY)

Avidian Wealth Solutions LLC boosted its position in Eli Lilly and Company (NYSE:LLYFree Report) by 22.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,608 shares of the company’s stock after purchasing an additional 664 shares during the period. Avidian Wealth Solutions LLC’s holdings in Eli Lilly and Company were worth $2,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $26,000. Core Wealth Advisors Inc. lifted its holdings in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Activest Wealth Management purchased a new stake in Eli Lilly and Company during the first quarter valued at about $39,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $7.48 during trading hours on Wednesday, reaching $939.98. 2,681,223 shares of the stock traded hands, compared to its average volume of 2,937,107. The company’s 50-day simple moving average is $838.34 and its two-hundred day simple moving average is $757.52. The company has a market capitalization of $893.37 billion, a P/E ratio of 138.44, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $945.69. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLYGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

Several research firms recently commented on LLY. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, July 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 price target on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $816.78.

Check Out Our Latest Analysis on LLY

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,004,704 shares of company stock valued at $869,479,116. 0.13% of the stock is currently owned by insiders.

About Eli Lilly and Company

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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