Scott Capital Advisors LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Scott Capital Advisors LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 30.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 651 shares of the company’s stock after buying an additional 151 shares during the period. Scott Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares in the last quarter. Capital World Investors lifted its position in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Morgan Stanley lifted its position in Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter valued at approximately $5,992,890,000. Finally, Capital Research Global Investors lifted its position in Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after acquiring an additional 325,342 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the company’s 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 completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now directly owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The disclosure for this sale can be found here. Insiders sold 791,145 shares of company stock valued at $673,704,508 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LLY shares. Citigroup increased their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Bank of America reissued a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group increased their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Trading Up 1.0 %

Shares of Eli Lilly and Company stock opened at $914.37 on Tuesday. The firm has a 50-day simple moving average of $814.40 and a two-hundred day simple moving average of $740.86. The company has a market cap 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. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business 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 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%.

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.