Miracle Mile Advisors LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Miracle Mile Advisors LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,743 shares of the company’s stock after purchasing an additional 600 shares during the period. Miracle Mile Advisors LLC’s holdings in Eli Lilly and Company were worth $4,468,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the last quarter. Moseley Investment Management Inc. grew its stake in Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after buying an additional 14 shares in the last quarter. CGN Advisors LLC grew its stake in Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after buying an additional 14 shares in the last quarter. Buckhead Capital Management LLC grew its stake in Eli Lilly and Company by 0.7% in the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after buying an additional 15 shares in the last quarter. Finally, Levin Capital Strategies L.P. grew its stake in Eli Lilly and Company by 3.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 791,145 shares of company stock worth $673,704,508 over the last three months. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 1.0 %

Shares of NYSE:LLY opened at $914.37 on Tuesday. The stock’s 50-day moving average price is $814.40 and its 200-day moving average price is $740.86. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $916.83. The stock has a market capitalization of $869.03 billion, a P/E ratio of 134.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. 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 (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $1.62 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued 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 dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. 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. Citigroup upped 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 report on Tuesday, April 2nd. Argus increased their price objective on 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. Bank of America reiterated a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

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.