Cullinan Associates Inc. Grows Position in Eli Lilly and Company (NYSE:LLY)

Cullinan Associates Inc. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,628 shares of the company’s stock after purchasing an additional 309 shares during the period. Cullinan Associates Inc.’s holdings in Eli Lilly and Company were worth $5,156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LLY. Lipe & Dalton bought a new stake in Eli Lilly and Company during the 4th quarter valued at $26,000. Core Wealth Advisors Inc. boosted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares in the last quarter. Tidemark LLC bought a new position in Eli Lilly and Company in the fourth quarter worth about $29,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC raised its stake in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.8 %

Eli Lilly and Company stock opened at $906.71 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock has a market capitalization of $861.75 billion, a PE ratio of 133.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. The business has a 50 day simple moving average of $818.06 and a 200-day simple moving average of $743.26. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $916.83.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share 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 company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Argus increased their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on 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 approximately $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 849,894 shares of company stock valued at $727,475,118 over the last quarter. 0.13% of the stock is currently owned by insiders.

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.