Global Assets Advisory LLC Takes Position in Eli Lilly and Company (NYSE:LLY)

Global Assets Advisory LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 418,303 shares of the company’s stock, valued at approximately $325,423,000. Eli Lilly and Company comprises approximately 1.1% of Global Assets Advisory LLC’s portfolio, making the stock its 20th largest holding.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 13 shares during the period. Moseley Investment Management Inc. grew its position in shares of Eli Lilly and Company by 0.4% during the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after purchasing an additional 14 shares in the last quarter. Buckhead Capital Management LLC grew 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 in the last quarter. Levin Capital Strategies L.P. grew 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 in the last quarter. Finally, Clearwater Capital Advisors LLC grew its position in shares of Eli Lilly and Company by 1.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 1,202 shares of the company’s stock worth $701,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction 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 $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 772,475 shares of company stock valued at $656,838,859. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Citigroup increased their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday. Finally, Argus increased their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $806.72.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $890.62 on Tuesday. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $905.45. The firm has a fifty day simple moving average of $801.37 and a 200 day simple moving average of $732.02. The company has a market capitalization of $846.45 billion, a PE ratio of 131.17, a P/E/G ratio of 1.93 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.73 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.