LJI Wealth Management LLC Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

LJI Wealth Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,758 shares of the company’s stock after purchasing an additional 242 shares during the period. Eli Lilly and Company comprises about 1.4% of LJI Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. LJI Wealth Management LLC’s holdings in Eli Lilly and Company were worth $6,118,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital Planning LLC purchased a new position in Eli Lilly and Company during the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Eli Lilly and Company in the first quarter worth approximately $6,916,000. M&G Plc purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $8,896,000. IPG Investment Advisors LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $9,878,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following 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 SEC, which is accessible through the SEC website. Insiders sold a total of 442,229 shares of company stock valued at $410,002,456 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Wells Fargo & Company boosted their price objective 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. Barclays upped their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Citigroup started coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Down 0.1 %

Shares of NYSE LLY opened at $905.10 on Thursday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The stock’s 50-day simple moving average is $896.00 and its 200-day simple moving average is $836.45. The firm has a market cap of $860.21 billion, a price-to-earnings ratio of 133.30, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

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.