Balanced Wealth Group LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Balanced Wealth Group LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 24.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536 shares of the company’s stock after selling 176 shares during the quarter. Balanced Wealth Group LLC’s holdings in Eli Lilly and Company were worth $490,000 as of its most recent SEC filing.

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

Eli Lilly and Company Price Performance

NYSE LLY opened at $921.72 on Friday. The business’s fifty day moving average is $895.06 and its 200 day moving average is $837.89. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company has a market capitalization of $876.01 billion, a PE ratio of 135.75, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 442,229 shares of company stock worth $410,002,456 in the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Berenberg Bank boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and 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.