Benjamin Edwards Inc. Grows Stake in Eli Lilly and Company (NYSE:LLY)

Benjamin Edwards Inc. boosted its position in Eli Lilly and Company (NYSE:LLY) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,232 shares of the company’s stock after purchasing an additional 240 shares during the period. Benjamin Edwards Inc.’s holdings in Eli Lilly and Company were worth $2,926,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter worth $36,000. Morton Brown Family Wealth LLC increased its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. 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 worth $29,000 after buying an additional 32 shares in the last quarter. Finally, Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth $29,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Citigroup initiated coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 442,229 shares of company stock worth $410,002,456 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $915.04 on Friday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a market capitalization of $869.66 billion, a P/E ratio of 134.76, a PEG ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The business’s fifty day moving average price is $895.62 and its 200 day moving average price is $836.99.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company 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%. As a group, research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 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.