Eli Lilly and Company (NYSE:LLY) Stock Position Raised by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 16.1% during the first quarter, HoldingsChannel.com reports. The fund owned 670 shares of the company’s stock after buying an additional 93 shares during the period. Cherrydale Wealth Management LLC’s holdings in Eli Lilly and Company were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. True North Advisors LLC raised its holdings in Eli Lilly and Company by 0.4% during the 1st quarter. True North Advisors LLC now owns 4,309 shares of the company’s stock worth $3,352,000 after buying an additional 18 shares during the period. Anderson Hoagland & Co. increased its position in shares of Eli Lilly and Company by 1.2% in the first quarter. Anderson Hoagland & Co. now owns 22,823 shares of the company’s stock worth $17,391,000 after acquiring an additional 260 shares in the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of Eli Lilly and Company by 1.4% during the first quarter. High Net Worth Advisory Group LLC now owns 4,919 shares of the company’s stock valued at $3,827,000 after acquiring an additional 67 shares during the period. Rheos Capital Works Inc. lifted its position in shares of Eli Lilly and Company by 32.9% in the 1st quarter. Rheos Capital Works Inc. now owns 113,000 shares of the company’s stock valued at $87,909,000 after acquiring an additional 28,000 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Eli Lilly and Company by 10.5% during the 1st quarter. Ballentine Partners LLC now owns 15,235 shares of the company’s stock worth $11,852,000 after purchasing an additional 1,442 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 772,475 shares of company stock worth $656,838,859 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $7.47 during midday trading on Monday, reaching $891.35. The company had a trading volume of 604,825 shares, compared to its average volume of 2,929,484. The company has a market capitalization of $847.15 billion, a price-to-earnings ratio of 130.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $905.45. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a fifty day simple moving average of $798.59 and a 200 day simple moving average of $729.89.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Bank of America raised their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $803.50.

Eli Lilly and Company 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.