Sierra Summit Advisors LLC Has $8.06 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Sierra Summit Advisors LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,899 shares of the company’s stock after acquiring an additional 559 shares during the period. Eli Lilly and Company makes up about 2.0% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Sierra Summit Advisors LLC’s holdings in Eli Lilly and Company were worth $8,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AMJ Financial Wealth Management acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $201,000. Aveo Capital Partners LLC increased its stake in Eli Lilly and Company by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock valued at $1,178,000 after buying an additional 153 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Eli Lilly and Company by 19.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after buying an additional 377 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Eli Lilly and Company by 2.5% during the 4th quarter. Main Street Financial Solutions LLC now owns 876 shares of the company’s stock worth $511,000 after buying an additional 21 shares during the last quarter. Finally, Motco grew its holdings in shares of Eli Lilly and Company by 270.8% in the 4th quarter. Motco now owns 9,219 shares of the company’s stock valued at $5,374,000 after acquiring an additional 6,733 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 1.2 %

NYSE:LLY opened at $923.71 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The firm’s 50 day simple moving average is $897.12 and its 200 day simple moving average is $833.89. The company has a market cap of $877.92 billion, a PE ratio of 136.04, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LLY. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 9th. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 451,900 shares of company stock valued at $418,732,178. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.