Successful Portfolios LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Successful Portfolios LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,257 shares of the company’s stock after selling 52 shares during the quarter. Successful Portfolios LLC’s holdings in Eli Lilly and Company were worth $978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in 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 valued at $39,000 after acquiring an additional 37 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.0 %

Shares of NYSE:LLY opened at $914.37 on Tuesday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $916.83. The firm has a market capitalization of $869.03 billion, a P/E ratio of 134.66, a P/E/G ratio of 1.97 and a beta of 0.41. The stock has a 50 day moving average price of $814.40 and a 200-day moving average price of $740.86. 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 (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (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 firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 791,145 shares of company stock valued at $673,704,508 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LLY. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a report on Monday, June 24th. The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. BMO Capital Markets increased their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Truist Financial restated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.