Cedar Wealth Management LLC Sells 31 Shares of Eli Lilly and Company (NYSE:LLY)

Cedar Wealth Management LLC lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 434 shares of the company’s stock after selling 31 shares during the quarter. Cedar Wealth Management LLC’s holdings in Eli Lilly and Company were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LLY. AMJ Financial Wealth Management bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $201,000. Aveo Capital Partners LLC lifted its holdings in Eli Lilly and Company by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after purchasing an additional 153 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in Eli Lilly and Company by 19.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock worth $1,355,000 after purchasing an additional 377 shares during the period. Quest Partners LLC acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $313,000. Finally, GW&K Investment Management LLC raised its position in shares of Eli Lilly and Company by 2.4% in the fourth quarter. GW&K Investment Management LLC now owns 754 shares of the company’s stock valued at $440,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LLY. Bank of America lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Citigroup started coverage on Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 442,229 shares of company stock valued at $410,002,456. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 1.1 %

Shares of NYSE LLY opened at $915.04 on Friday. The firm’s 50-day simple moving average is $895.62 and its 200 day simple moving average is $836.99. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a market cap of $869.66 billion, a price-to-earnings ratio of 134.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

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.