CCG Wealth Management LLC Acquires Shares of 330 Eli Lilly and Company (NYSE:LLY)

CCG Wealth Management LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 330 shares of the company’s stock, valued at approximately $257,000.

A number of other hedge funds also recently modified their holdings of LLY. Simon Quick Advisors LLC lifted its holdings in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares during the last quarter. Independent Advisor Alliance grew its position in Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP increased its stake in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares during the period. Clear Harbor Asset Management LLC bought a new position in Eli Lilly and Company during the 4th quarter worth $363,000. Finally, Terril Brothers Inc. raised its holdings in Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $914.37 on Tuesday. The stock’s 50 day moving average is $814.40 and its 200 day moving average is $740.86. Eli Lilly and Company has a one year low of $434.34 and a one year high of $916.83. The firm has a market cap of $869.03 billion, a P/E ratio of 134.66, a P/E/G ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

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

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend 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 payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s 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 transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, 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. In the last ninety days, insiders sold 791,145 shares of company stock valued at $673,704,508. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Citigroup raised their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Jefferies Financial Group lifted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on 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. Finally, BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Three 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $812.72.

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.