Waterway Wealth Management LLC Takes $245,000 Position in Eli Lilly and Company (NYSE:LLY)

Waterway Wealth Management LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 315 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC grew its stake in Eli Lilly and Company by 111.3% during the third quarter. Gotham Asset Management LLC now owns 7,386 shares of the company’s stock valued at $3,967,000 after acquiring an additional 3,891 shares in the last quarter. Logan Capital Management Inc. grew its stake in Eli Lilly and Company by 0.9% during the third quarter. Logan Capital Management Inc. now owns 35,290 shares of the company’s stock valued at $18,955,000 after acquiring an additional 302 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $4,078,000. Insigneo Advisory Services LLC grew its stake in Eli Lilly and Company by 16.4% during the third quarter. Insigneo Advisory Services LLC now owns 3,125 shares of the company’s stock valued at $1,679,000 after acquiring an additional 440 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Eli Lilly and Company by 0.5% during the third quarter. AQR Capital Management LLC now owns 305,633 shares of the company’s stock valued at $164,165,000 after acquiring an additional 1,448 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated 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 of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated 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 of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock valued at $672,385,964 in the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target 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. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. 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, June 24th. Finally, Erste Group Bank raised shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Trading Down 0.4 %

NYSE:LLY opened at $905.38 on Monday. The company has a 50-day moving average price of $814.40 and a 200-day moving average price of $740.86. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $915.54. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market cap of $860.48 billion, a price-to-earnings ratio of 133.34, a P/E/G ratio of 1.97 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping 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 analysts’ expectations of $8.94 billion. During the same period last year, the company posted $1.62 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.