Eli Lilly and Company (NYSE:LLY) Shares Acquired by Prentice Wealth Management LLC

Prentice Wealth Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,439 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Prentice Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,119,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares in the last quarter. Capital World Investors grew its holdings in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after acquiring an additional 89,720 shares during the period. Morgan Stanley raised its position in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after buying an additional 83,915 shares during the period. Norges Bank purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $5,992,890,000. Finally, Capital Research Global Investors raised its position in shares of Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after buying an additional 325,342 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. Argus raised their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday. Finally, Bank of America reiterated a “buy” rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a research note on Monday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company 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 in the company, valued at $88,033,404,445.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,704 shares of company stock worth $672,385,964. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $4.57 during mid-day trading on Wednesday, hitting $900.04. 907,809 shares of the company traded hands, compared to its average volume of 2,930,811. Eli Lilly and Company has a one year low of $434.34 and a one year high of $909.42. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business has a 50-day moving average of $804.54 and a 200 day moving average of $734.18. The stock has a market capitalization of $855.41 billion, a price-to-earnings ratio of 133.11, a PEG ratio of 1.97 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating 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 business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.