Linscomb Wealth Inc. Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Linscomb Wealth Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,273 shares of the company’s stock after selling 116 shares during the period. Linscomb Wealth Inc.’s holdings in Eli Lilly and Company were worth $2,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LLY. Twelve Points Wealth Management LLC increased its position in shares of Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC lifted its holdings in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares in the last quarter. Acorn Creek Capital LLC boosted its position in shares of Eli Lilly and Company by 1.3% in the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after buying an additional 12 shares during the period. Thompson Davis & CO. Inc. grew its holdings 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 valued at $1,527,000 after buying an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Eli Lilly and Company by 1.8% during the first 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. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the transaction, the insider now owns 97,778,788 shares of the company’s stock, valued at $86,286,847,046.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 661,900 shares of company stock valued at $604,721,602. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 0.8 %

Shares of Eli Lilly and Company stock opened at $901.28 on Wednesday. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The stock has a market capitalization of $856.60 billion, a P/E ratio of 132.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The company has a 50-day simple moving average of $895.74 and a 200 day simple moving average of $830.47. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Research analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LLY. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Truist Financial reaffirmed a “buy” rating and set 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. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $961.76.

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.