Dana Investment Advisors Inc. Sells 289 Shares of Eli Lilly and Company (NYSE:LLY)

Dana Investment Advisors Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,636 shares of the company’s stock after selling 289 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Eli Lilly and Company were worth $18,683,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LLY. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the first quarter valued at approximately $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $885.56 on Tuesday. The company has a market cap of $841.64 billion, a P/E ratio of 130.42, a P/E/G ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $516.57 and a 52-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 firm’s fifty day moving average is $896.50 and its two-hundred day moving average is $844.99.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.83 billion. As a group, analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price objective for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 52,369 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $915.18, for a total value of $47,927,061.42. Following the completion of the transaction, the insider now owns 97,247,403 shares of the company’s stock, valued at approximately $88,998,878,277.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 364,810 shares of company stock valued at $339,366,198 in the last three months. Corporate insiders own 0.13% of the company’s stock.

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.