Legacy Wealth Asset Management LLC Sells 316 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Wealth Asset Management LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 7.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,106 shares of the company’s stock after selling 316 shares during the quarter. Eli Lilly and Company comprises approximately 0.9% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 13th biggest position. Legacy Wealth Asset Management LLC’s holdings in Eli Lilly and Company were worth $3,194,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of LLY. Simon Quick Advisors LLC lifted its holdings in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares during the period. Independent Advisor Alliance grew its position in Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP increased its holdings in Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $363,000. Finally, Terril Brothers Inc. boosted its stake in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.9 %

LLY stock opened at $898.10 on Friday. The firm has a fifty day moving average price of $828.07 and a 200 day moving average price of $747.74. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $918.50. The firm 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 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 issued its quarterly earnings data 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 business’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Sell-side analysts anticipate 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 issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Citigroup increased their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Argus raised 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. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’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 completion of 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 through this hyperlink. Also, 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 value of $8,098,662.88. Following the completion of the sale, the insider now owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 858,742 shares of company stock valued at $735,573,781. 0.13% of the stock is currently owned by 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.