Redmont Wealth Advisors LLC Takes Position in Eli Lilly and Company (NYSE:LLY)

Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in Eli Lilly and Company by 86.8% in the third quarter. Alps Advisors Inc. now owns 33,288 shares of the company’s stock valued at $17,880,000 after purchasing an additional 15,471 shares during the last quarter. Elevatus Welath Management acquired a new stake in Eli Lilly and Company in the third quarter worth about $371,000. EHP Funds Inc. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth about $269,000. Legacy Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 14.7% during the third quarter. Legacy Advisors LLC now owns 2,045 shares of the company’s stock worth $1,098,000 after purchasing an additional 262 shares during the period. Finally, Lakeshore Financial Planning Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $263,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.9 %

Shares of LLY opened at $898.10 on Thursday. 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 has a one year low of $434.34 and a one year high of $918.50. The stock has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41. The stock has a 50 day moving average price of $821.29 and a 200 day moving average price of $745.62.

Eli Lilly and Company (NYSE:LLY) last released 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. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Equities research analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday. Bank of America reiterated a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a research report on Monday, June 24th. Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price objective 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. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated 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 approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 858,742 shares of company stock worth $735,573,781 in the last quarter. 0.13% of the stock is owned by company insiders.

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.