Summit Financial Wealth Advisors LLC Increases Position in Eli Lilly and Company (NYSE:LLY)

Summit Financial Wealth Advisors LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 848 shares of the company’s stock after acquiring an additional 79 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of LLY. Elios Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $433,000. Qsemble Capital Management LP purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at about $2,899,000. Acorn Wealth Advisors LLC increased its position in Eli Lilly and Company by 20.5% during the third quarter. Acorn Wealth Advisors LLC now owns 689 shares of the company’s stock worth $610,000 after purchasing an additional 117 shares during the last quarter. Wiser Advisor Group LLC raised its stake in Eli Lilly and Company by 8.6% during the third quarter. Wiser Advisor Group LLC now owns 1,609 shares of the company’s stock worth $1,426,000 after purchasing an additional 128 shares during the period. Finally, Associated Banc Corp boosted its holdings in Eli Lilly and Company by 13.8% in the 3rd quarter. Associated Banc Corp now owns 26,299 shares of the company’s stock valued at $23,299,000 after purchasing an additional 3,197 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America lowered their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Citigroup boosted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $755.00 on Tuesday. The company has a market capitalization of $716.73 billion, a price-to-earnings ratio of 81.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. 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 has a 50 day moving average price of $861.63 and a 200 day moving average price of $870.20.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.