Pettinga Financial Advisors LLC Makes New $340,000 Investment in Eli Lilly and Company (NYSE:LLY)

Pettinga Financial Advisors LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 437 shares of the company’s stock, valued at approximately $340,000.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. lifted its stake in shares of Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the period. CGN Advisors LLC lifted its stake in shares of Eli Lilly and Company by 1.4% in the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the period. Buckhead Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 0.7% in the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the period. Finally, Levin Capital Strategies L.P. lifted its stake in shares of Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the period. 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. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $916.83. The firm has a fifty day moving average of $814.40 and a 200-day moving average of $740.86. The firm has a market capitalization of $869.03 billion, a P/E ratio of 134.66, a PEG ratio of 1.97 and a beta of 0.41. 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 announced its 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. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. As a group, analysts predict that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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 paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction 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 transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 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 legal filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold 791,145 shares of company stock worth $673,704,508 in the last ninety days. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. JPMorgan Chase & Co. upped 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 report on Wednesday, May 1st. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Argus upped their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company 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.