Fairscale Capital LLC Acquires New Shares in Eli Lilly and Company (NYSE:LLY)

Fairscale Capital LLC bought a new position in Eli Lilly and Company (NYSE:LLY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 547 shares of the company’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LLY. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Jefferies Financial Group boosted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Citigroup assumed coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

LLY opened at $921.49 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a market capitalization of $875.79 billion, a price-to-earnings ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42. The company has a fifty day moving average of $895.06 and a 200 day moving average of $838.32. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, sell-side analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 in the last quarter. 0.13% of the stock is currently owned by insiders.

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.