Waverton Investment Management Ltd Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Waverton Investment Management Ltd trimmed its position in Eli Lilly and Company (NYSE:LLY) by 44.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 307 shares of the company’s stock after selling 243 shares during the quarter. Waverton Investment Management Ltd’s holdings in Eli Lilly and Company were worth $278,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bordeaux Wealth Advisors LLC grew its holdings in Eli Lilly and Company by 4.2% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 677 shares of the company’s stock valued at $613,000 after buying an additional 27 shares in the last quarter. First Business Financial Services Inc. grew its holdings in shares of Eli Lilly and Company by 4.5% in the second quarter. First Business Financial Services Inc. now owns 5,538 shares of the company’s stock valued at $5,014,000 after purchasing an additional 236 shares in the last quarter. Foster & Motley Inc. increased its position in Eli Lilly and Company by 4.5% in the second quarter. Foster & Motley Inc. now owns 1,122 shares of the company’s stock worth $1,016,000 after purchasing an additional 48 shares during the last quarter. Impact Partnership Wealth LLC raised its stake in Eli Lilly and Company by 91.9% during the second quarter. Impact Partnership Wealth LLC now owns 881 shares of the company’s stock valued at $798,000 after purchasing an additional 422 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in Eli Lilly and Company by 1.7% during the second quarter. Deseret Mutual Benefit Administrators now owns 3,302 shares of the company’s stock valued at $2,990,000 after purchasing an additional 56 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80. Following the completion of the transaction, the insider now directly owns 97,793,810 shares of the company’s stock, valued at approximately $84,178,955,771.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 737,410 shares of company stock valued at $669,719,100. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $912.75 on Friday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month 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. The stock has a fifty day simple moving average of $896.03 and a two-hundred day simple moving average of $826.65. The stock has a market capitalization of $867.48 billion, a price-to-earnings ratio of 134.43, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. On average, analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Argus upped their price objective on 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. Guggenheim lifted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Bank of America lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

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.