ZRC Wealth Management LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

ZRC Wealth Management LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 18.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 650 shares of the company’s stock after selling 150 shares during the quarter. ZRC Wealth Management LLC’s holdings in Eli Lilly and Company were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LLY. Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares during the period. Moseley Investment Management Inc. increased its position in shares of Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the last quarter. CGN Advisors LLC raised its holdings in shares of Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares in the last quarter. Buckhead Capital Management LLC lifted its position in shares of Eli Lilly and Company by 0.7% during the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after purchasing an additional 15 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its position in shares of Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold a total of 858,742 shares of company stock valued at $735,573,781 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock traded down $8.61 during trading on Thursday, hitting $898.10. The company had a trading volume of 3,078,367 shares, compared to its average volume of 2,667,176. The firm has a 50-day moving average price of $824.60 and a 200-day moving average price of $746.69. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market cap of $853.56 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LLY shares. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group boosted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

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.