Waycross Partners LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Waycross Partners LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,000 shares of the company’s stock after selling 1,000 shares during the period. Waycross Partners LLC’s holdings in Eli Lilly and Company were worth $4,527,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Tidemark LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at 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 purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the second quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth approximately $37,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LLY. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Barclays boosted 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. Finally, Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 451,900 shares of company stock valued at $418,732,178. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

LLY opened at $923.71 on Monday. The firm’s fifty day simple moving average is $897.12 and its two-hundred day simple moving average is $833.89. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a market cap of $877.92 billion, a price-to-earnings ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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