Frank Rimerman Advisors LLC Buys 13,690 Shares of Eli Lilly and Company (NYSE:LLY)

Frank Rimerman Advisors LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 21,390.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,754 shares of the company’s stock after buying an additional 13,690 shares during the quarter. Eli Lilly and Company comprises about 0.9% of Frank Rimerman Advisors LLC’s holdings, making the stock its 17th largest position. Frank Rimerman Advisors LLC’s holdings in Eli Lilly and Company were worth $12,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC increased its position in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the period. Verum Partners LLC grew its stake in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares in the last quarter. Acorn Creek Capital LLC increased its holdings in Eli Lilly and Company by 1.3% during the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares during the period. Thompson Davis & CO. Inc. lifted its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares in the last quarter. Finally, O Brien Greene & Co. Inc boosted its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $921.49 on Friday. The company has a 50-day simple moving average of $895.06 and a two-hundred day simple moving average of $838.32. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The firm has a market cap of $875.79 billion, a price-to-earnings ratio of 135.71, a PEG 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 released its earnings results 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. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced 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 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 over the last three months. 0.13% of the stock is owned by company insiders.

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.