Leonard Rickey Investment Advisors P.L.L.C. Buys Shares of 312 Eli Lilly and Company (NYSE:LLY)

Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in Eli Lilly and Company (NYSE:LLY) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 312 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. Gotham Asset Management LLC increased its position in Eli Lilly and Company by 111.3% during the third quarter. Gotham Asset Management LLC now owns 7,386 shares of the company’s stock worth $3,967,000 after buying an additional 3,891 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 86.8% during the 3rd quarter. Alps Advisors Inc. now owns 33,288 shares of the company’s stock worth $17,880,000 after acquiring an additional 15,471 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Eli Lilly and Company by 2.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 958,130 shares of the company’s stock valued at $514,640,000 after acquiring an additional 22,710 shares during the last quarter. Elevatus Welath Management bought a new position in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $371,000. Finally, EHP Funds Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $269,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of 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. Truist Financial reissued a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY 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 business’s fifty day moving average price is $818.06 and its two-hundred day moving average price is $743.26. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The stock has a market capitalization of $861.75 billion, a price-to-earnings ratio of 133.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 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 analyst estimates 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 revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated 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 completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated 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 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. Over the last quarter, insiders have sold 849,894 shares of company stock valued at $727,475,118. 0.13% of the stock is currently owned by corporate insiders.

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.