RMR Wealth Builders Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

RMR Wealth Builders grew its stake in Eli Lilly and Company (NYSE:LLY) by 18.5% during the first quarter, Holdings Channel.com reports. The fund owned 4,172 shares of the company’s stock after purchasing an additional 650 shares during the quarter. RMR Wealth Builders’ holdings in Eli Lilly and Company were worth $3,246,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the fourth 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 lifted its holdings 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 valued at $6,738,605,000 after buying an additional 83,915 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Finally, Capital Research Global Investors grew its position in Eli Lilly and Company by 4.5% during the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after buying an additional 325,342 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LLY. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. Jefferies Financial Group increased their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets raised their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Trading Up 1.7 %

Shares of NYSE LLY traded up $14.84 on Tuesday, reaching $904.95. 2,837,356 shares of the company traded hands, compared to its average volume of 2,947,501. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $909.42. The company 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 $860.07 billion, a PE ratio of 133.28, a P/E/G ratio of 1.93 and a beta of 0.36. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 13.73 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock worth $672,385,964 in the last three months. 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.