Massachusetts Wealth Management Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Massachusetts Wealth Management lifted its position in Eli Lilly and Company (NYSE:LLY) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,640 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Massachusetts Wealth Management’s holdings in Eli Lilly and Company were worth $1,276,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Simon Quick Advisors LLC increased its holdings in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares during the period. Independent Advisor Alliance increased its holdings in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP increased its holdings in shares of Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth $363,000. Finally, Terril Brothers Inc. increased its holdings in shares of 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. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LLY shares. Truist Financial reissued a “buy” rating and issued 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 reissued an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday. Bank of America reissued a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Jefferies Financial Group increased their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $898.10 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a one year low of $434.34 and a one year high of $918.50. The company has a 50-day simple moving average of $824.60 and a two-hundred day simple moving average of $746.69. The firm has a market capitalization of $853.56 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the business earned $1.62 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 of the company’s stock, valued at approximately $89,059,454,309.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 858,742 shares of company stock worth $735,573,781. 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.