Eli Lilly and Company (NYSE:LLY) Stock Holdings Lowered by Wealth Alliance

Wealth Alliance lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,736 shares of the company’s stock after selling 573 shares during the period. Eli Lilly and Company accounts for 0.8% of Wealth Alliance’s portfolio, making the stock its 20th biggest holding. Wealth Alliance’s holdings in Eli Lilly and Company were worth $6,099,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AMJ Financial Wealth Management acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $201,000. Aveo Capital Partners LLC lifted its holdings in Eli Lilly and Company by 8.2% in the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after purchasing an additional 153 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Eli Lilly and Company by 19.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after purchasing an additional 377 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Eli Lilly and Company by 11.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 804 shares of the company’s stock worth $469,000 after purchasing an additional 80 shares during the period. Finally, Sachetta LLC acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $99,000. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 451,900 shares of company stock worth $418,732,178 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group upped 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 report on Monday, June 24th. 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 report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Bank of America upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Price Performance

Shares of LLY opened at $906.17 on Wednesday. The company has a market capitalization of $861.23 billion, a price-to-earnings ratio of 133.46, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business’s 50-day moving average is $896.70 and its 200-day moving average is $835.96.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for 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%. Equities research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 0.57%. Eli Lilly and Company’s dividend payout ratio is 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.