Triangle Securities Wealth Management Sells 118 Shares of Eli Lilly and Company (NYSE:LLY)

Triangle Securities Wealth Management lowered its stake in Eli Lilly and Company (NYSE:LLY) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,327 shares of the company’s stock after selling 118 shares during the period. Eli Lilly and Company makes up approximately 1.0% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 25th biggest position. Triangle Securities Wealth Management’s holdings in Eli Lilly and Company were worth $3,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Lipe & Dalton bought a new position in Eli Lilly and Company during the 4th quarter valued at about $26,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. raised its holdings in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Optiver Holding B.V. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company in the 4th quarter valued at $37,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

NYSE LLY opened at $883.88 on Friday. The firm’s fifty day simple moving average is $798.59 and its two-hundred day simple moving average is $728.91. The firm has a market capitalization of $840.05 billion, a P/E ratio of 130.17, 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 has a 12-month low of $434.34 and a 12-month high of $905.45.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter last year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on 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 directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 762,804 shares of company stock worth $648,109,138. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on LLY. The Goldman Sachs Group raised their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Bank of America increased their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Truist Financial lifted their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $803.50.

Eli Lilly and 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.