Waldron Private Wealth LLC Increases Stake in Eli Lilly and Company (NYSE:LLY)

Waldron Private Wealth LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,067 shares of the company’s stock after buying an additional 27 shares during the period. Waldron Private Wealth LLC’s holdings in Eli Lilly and Company were worth $12,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Independent Advisor Alliance grew its holdings in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP grew its holdings in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after purchasing an additional 10,842 shares during the period. Capital Planning LLC purchased a new stake in Eli Lilly and Company in the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in Eli Lilly and Company in the first quarter worth about $6,916,000. Finally, M&G Plc purchased a new stake in Eli Lilly and Company in the first quarter worth about $8,896,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,097,883 shares of company stock valued at $972,022,568. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, August 19th. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their target price for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Trading Up 2.1 %

Shares of LLY stock traded up $19.82 during trading hours on Friday, reaching $960.02. 2,555,073 shares of the stock were exchanged, compared to its average volume of 3,625,430. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average price is $892.64 and its 200-day moving average price is $822.08. The firm has a market capitalization of $912.43 billion, a price-to-earnings ratio of 141.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released 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. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. 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.