Massachusetts Wealth Management Buys 275 Shares of Eli Lilly and Company (NYSE:LLY)

Massachusetts Wealth Management increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 20.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,640 shares of the company’s stock after buying an additional 275 shares during the quarter. Massachusetts Wealth Management’s holdings in Eli Lilly and Company were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Simon Quick Advisors LLC raised its position in Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Eli Lilly and Company by 1.7% in the 4th 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 stake in shares of Eli Lilly and Company by 1,819.1% in the 4th 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 period. Clear Harbor Asset Management LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $363,000. Finally, Terril Brothers Inc. increased its stake in shares of Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Argus lifted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $812.72.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was 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 in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 858,742 shares of company stock worth $735,573,781. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $898.10 on Friday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $918.50. The firm has a market capitalization of $853.56 billion, a PE ratio of 132.27, a PEG 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. 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 earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued 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 0.58%. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.