Hennion & Walsh Asset Management Inc. Sells 4,130 Shares of Eli Lilly and Company (NYSE:LLY)

Hennion & Walsh Asset Management Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 16.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,666 shares of the company’s stock after selling 4,130 shares during the quarter. Eli Lilly and Company comprises about 0.9% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 11th biggest holding. Hennion & Walsh Asset Management Inc.’s holdings in Eli Lilly and Company were worth $16,077,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $26,000. Core Wealth Advisors Inc. grew its stake in Eli Lilly and Company by 188.2% in the 4th 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. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth $29,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC lifted its holdings in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $905.38 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market cap of $860.48 billion, a P/E ratio of 133.34, a P/E/G ratio of 1.97 and a beta of 0.36. The business’s 50 day moving average price is $814.40 and its 200-day moving average price is $739.86. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $915.54.

Eli Lilly and Company (NYSE:LLY) last released its 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 return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is 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 is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the transaction, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the transaction, the insider now directly owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 789,704 shares of company stock worth $672,385,964. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. Jefferies Financial Group raised their price target 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, June 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Citigroup upped their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

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.