Strong Tower Advisory Services Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Strong Tower Advisory Services decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,993 shares of the company’s stock after selling 407 shares during the period. Eli Lilly and Company comprises approximately 2.8% of Strong Tower Advisory Services’ holdings, making the stock its 11th largest holding. Strong Tower Advisory Services’ holdings in Eli Lilly and Company were worth $6,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. CGN Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.4% during the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after buying an additional 14 shares during the period. Worth Asset Management LLC increased its stake in shares of Eli Lilly and Company by 14.7% during the first quarter. Worth Asset Management LLC now owns 1,751 shares of the company’s stock valued at $1,362,000 after buying an additional 224 shares during the period. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at $262,000. Perkins Coie Trust Co boosted its position in Eli Lilly and Company by 14.7% during the first quarter. Perkins Coie Trust Co now owns 4,445 shares of the company’s stock valued at $3,458,000 after purchasing an additional 571 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in Eli Lilly and Company by 0.8% during the first quarter. Ignite Planners LLC now owns 1,963 shares of the company’s stock valued at $1,493,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded up $6.21 during trading hours on Tuesday, hitting $896.32. 367,700 shares of the stock were exchanged, compared to its average volume of 2,926,998. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45. The company has a market cap of $851.87 billion, a price-to-earnings ratio of 131.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The stock’s 50-day moving average price is $801.37 and its two-hundred day moving average price is $732.02.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Research analysts expect that Eli Lilly and Company will post 13.73 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 Monday, June 10th. Shareholders of record on Thursday, May 16th were paid 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 was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction 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 in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold a total of 772,475 shares of company stock valued at $656,838,859 in the last quarter. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Argus raised their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

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.