SeaCrest Wealth Management LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

SeaCrest Wealth Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,977 shares of the company’s stock after selling 2,325 shares during the quarter. Eli Lilly and Company comprises 1.7% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding. SeaCrest Wealth Management LLC’s holdings in Eli Lilly and Company were worth $13,986,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the period. Capital World Investors raised its holdings in shares of Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Morgan Stanley raised its holdings in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $5,992,890,000. Finally, Capital Research Global Investors raised its holdings in shares of Eli Lilly and Company by 4.5% during the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after purchasing an additional 325,342 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LLY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Citigroup upped their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Bank of America restated a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $812.72.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 58,749 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the completion of the transaction, the insider now directly owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 58,749 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74. Following the completion of the transaction, the insider now directly owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 849,894 shares of company stock valued at $727,475,118 in the last three months. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $7.66 on Tuesday, reaching $906.71. 4,526,567 shares of the company traded hands, compared to its average volume of 2,947,025. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $916.83. The company has a 50 day moving average of $818.06 and a 200 day moving average of $743.26. The firm has a market capitalization of $861.75 billion, a PE ratio of 133.54, a PEG ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating 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 the consensus estimate of $8.94 billion. During the same period in the prior year, the firm earned $1.62 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.