Frisch Financial Group Inc. Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Frisch Financial Group Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 12.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,423 shares of the company’s stock after acquiring an additional 262 shares during the period. Eli Lilly and Company makes up approximately 0.7% of Frisch Financial Group Inc.’s portfolio, making the stock its 28th largest position. Frisch Financial Group Inc.’s holdings in Eli Lilly and Company were worth $2,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidemark LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at $29,000. Core Wealth Advisors Inc. raised its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $924.05 on Tuesday. The company has a market capitalization of $878.22 billion, a PE ratio of 136.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company’s fifty day moving average price is $897.24 and its 200 day moving average price is $835.09.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 the consensus estimate of $9.83 billion. As a group, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. Barclays boosted their price target 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. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America upped their price objective 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. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

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.