Eli Lilly and Company (NYSE:LLY) Shares Sold by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 677 shares of the company’s stock after selling 45 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $613,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LLY. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the second quarter worth $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the second quarter worth $36,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth $37,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Jefferies Financial Group increased their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 451,900 shares of company stock valued at $418,732,178. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 1.9 %

Eli Lilly and Company stock opened at $906.17 on Wednesday. The stock has a market cap of $861.23 billion, a PE ratio of 133.46, a P/E/G ratio of 2.79 and a beta of 0.42. The stock has a 50-day moving average price of $896.70 and a 200 day moving average price of $835.96. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week 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.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm 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%. Equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

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.