Madrona Financial Services LLC Buys New Position in Eli Lilly and Company (NYSE:LLY)

Madrona Financial Services LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the first quarter, Holdings Channel reports. The fund bought 270 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norden Group LLC grew its position in Eli Lilly and Company by 2,105.6% in the 1st quarter. Norden Group LLC now owns 37,098 shares of the company’s stock valued at $28,860,000 after buying an additional 35,416 shares in the last quarter. Arvest Investments Inc. acquired a new stake in Eli Lilly and Company in the 1st quarter valued at about $616,000. Meadow Creek Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 112.4% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,161 shares of the company’s stock valued at $3,237,000 after acquiring an additional 2,202 shares during the last quarter. Lake Street Private Wealth LLC lifted its holdings in Eli Lilly and Company by 5.7% in the 1st quarter. Lake Street Private Wealth LLC now owns 8,175 shares of the company’s stock valued at $6,360,000 after acquiring an additional 440 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Eli Lilly and Company by 2.9% in the 1st quarter. Valley National Advisers Inc. now owns 5,901 shares of the company’s stock valued at $4,591,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, 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 SEC, which is available through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, 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 SEC, which is available through this hyperlink. 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 transaction of $5,781,545.28. Following the transaction, 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. Over the last quarter, insiders have sold 858,742 shares of company stock valued at $735,573,781. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LLY. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Citigroup upped their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Performance

LLY stock opened at $898.10 on Friday. 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 has a market cap of $853.56 billion, a P/E ratio of 132.27, a P/E/G ratio of 1.96 and a beta of 0.41. The firm has a 50 day simple moving average of $824.60 and a 200 day simple moving average of $746.69. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $918.50.

Eli Lilly and Company (NYSE:LLY) last posted 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. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $1.62 earnings per share. 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 firm 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 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

About Eli Lilly and Company

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.