Redmont Wealth Advisors LLC Invests $40,000 in Eli Lilly and Company (NYSE:LLY)

Redmont Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 51 shares of the company’s stock, valued at approximately $40,000.

Several other large investors have also modified their holdings of LLY. Simon Quick Advisors LLC grew its position in shares of Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares in the last quarter. Independent Advisor Alliance grew its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP grew its position in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $363,000. Finally, Terril Brothers Inc. boosted its holdings in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.9 %

LLY stock opened at $898.10 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock’s 50 day simple moving average is $821.29 and its 200 day simple moving average is $745.62. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $918.50. The company has a market cap of $853.56 billion, a P/E ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the firm earned $1.62 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. On average, research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LLY. 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. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday. Citigroup lifted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $812.72.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the sale, the insider now directly owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the sale, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was 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 have sold 858,742 shares of company stock worth $735,573,781 in the last ninety days. Company insiders own 0.13% of the company’s stock.

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.