GM Advisory Group LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

GM Advisory Group LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,705 shares of the company’s stock after purchasing an additional 89 shares during the period. GM Advisory Group LLC’s holdings in Eli Lilly and Company were worth $9,692,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LLY. AMJ Financial Wealth Management purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $201,000. Aveo Capital Partners LLC increased its holdings in Eli Lilly and Company by 8.2% during the 4th 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 lifted its holdings in shares of Eli Lilly and Company by 19.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after purchasing an additional 377 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $313,000. Finally, GW&K Investment Management LLC raised its position in shares of 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 worth $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.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Bank of America raised their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Guggenheim upped their target price on 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. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 442,229 shares of company stock worth $410,002,456 in the last 90 days. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Price Performance

LLY opened at $915.04 on Friday. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a 50 day moving average of $895.62 and a two-hundred day moving average of $836.99. The company has a market cap of $869.66 billion, a P/E ratio of 134.76, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

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

Eli Lilly and Company Announces Dividend

The business also recently announced 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 of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.