Eli Lilly and Company (NYSE:LLY) Shares Sold by ZRC Wealth Management LLC

ZRC Wealth Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 650 shares of the company’s stock after selling 150 shares during the period. ZRC Wealth Management LLC’s holdings in Eli Lilly and Company were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LLY. Simon Quick Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares during the period. Independent Advisor Alliance grew its position in Eli Lilly and Company by 1.7% in the 4th 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 last quarter. Apexium Financial LP increased its stake in shares of 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 valued at $6,667,000 after purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $363,000. Finally, Terril Brothers Inc. boosted its position in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after buying an additional 429 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $8.61 during mid-day trading on Thursday, reaching $898.10. The company had a trading volume of 3,078,367 shares, compared to its average volume of 2,667,176. The company has a 50-day moving average price of $824.60 and a two-hundred day moving average price of $746.69. The stock has a market cap of $853.56 billion, a PE ratio of 132.27, a P/E/G ratio of 1.98 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. On average, equities analysts anticipate that Eli Lilly and Company will post 13.76 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. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

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 shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 858,742 shares of company stock worth $735,573,781. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. Bank of America restated a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Argus increased their target price on shares of 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. The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.