49 Wealth Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

49 Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 327 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $26,000. Tidemark LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. raised its stake in shares of 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 buying an additional 32 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC grew its stake in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after acquiring an additional 37 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company 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 owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LLY shares. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Citigroup raised their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, July 1st. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $843.00.

Eli Lilly and Company Trading Up 1.5 %

Shares of NYSE:LLY traded up $14.26 during trading on Friday, hitting $948.40. The company had a trading volume of 2,315,131 shares, compared to its average volume of 2,524,515. The stock has a market cap of $901.37 billion, a price-to-earnings ratio of 139.68, a price-to-earnings-growth ratio of 2.07 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. The company has a fifty day simple moving average of $849.46 and a two-hundred day simple moving average of $763.99. Eli Lilly and Company has a one year low of $434.34 and a one year high of $950.79.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate 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 company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) 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.