Sunbelt Securities Inc. Increases Position in Eli Lilly and Company (NYSE:LLY)

Sunbelt Securities Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 145.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,575 shares of the company’s stock after purchasing an additional 3,303 shares during the period. Sunbelt Securities Inc.’s holdings in Eli Lilly and Company were worth $4,337,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. boosted its holdings in Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the period. CGN Advisors LLC boosted its holdings in Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the period. Buckhead Capital Management LLC boosted its holdings in Eli Lilly and Company by 0.7% in the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the period. Finally, Levin Capital Strategies L.P. boosted its holdings in Eli Lilly and Company by 3.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 approximately $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock worth $672,385,964 in the last quarter. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday. Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday. Finally, Argus raised their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three equities 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Price Performance

LLY traded up $14.84 during midday trading on Tuesday, hitting $904.95. The company had a trading volume of 2,837,356 shares, compared to its average volume of 2,947,501. 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 company has a market capitalization of $860.07 billion, a PE ratio of 133.28, a P/E/G ratio of 1.93 and a beta of 0.36. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $909.42. The firm’s 50-day simple moving average is $804.54 and its 200-day simple moving average is $734.18.

Eli Lilly and Company (NYSE:LLY) last issued 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. 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 during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 13.73 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

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.