SRS Capital Advisors Inc. Increases Stake in Eli Lilly and Company (NYSE:LLY)

SRS Capital Advisors Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 25.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,447 shares of the company’s stock after buying an additional 495 shares during the period. SRS Capital Advisors Inc.’s holdings in Eli Lilly and Company were worth $2,216,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LLY. Twelve Points Wealth Management LLC grew its position in shares of Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares during the last quarter. Verum Partners LLC grew its holdings in Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC increased its position in shares of Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LLY shares. Argus boosted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, August 19th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Barclays upped their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $10.04 on Friday, hitting $902.71. The company had a trading volume of 3,439,999 shares, compared to its average volume of 3,063,074. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm has a market cap of $857.94 billion, a P/E ratio of 132.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company has a 50-day moving average price of $895.97 and a 200-day moving average price of $827.49.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities research analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 737,410 shares of company stock valued at $669,719,100 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.