Eli Lilly and Company (NYSE:LLY) Stake Cut by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,660 shares of the company’s stock after selling 91 shares during the quarter. Kovack Advisors Inc.’s holdings in Eli Lilly and Company were worth $3,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lipe & Dalton purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $26,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC raised its holdings 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 valued at $39,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction 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 transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $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 valued at $735,573,781 over the last quarter. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Down 0.9 %

LLY stock opened at $898.10 on Friday. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $918.50. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market cap of $853.56 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.41. The business’s 50-day simple moving average is $824.60 and its 200 day simple moving average is $746.69.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given 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 dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LLY shares. BMO Capital Markets reissued an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research report on Wednesday. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

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.