Wellington Shields Capital Management LLC Sells 381 Shares of Eli Lilly and Company (NYSE:LLY)

Wellington Shields Capital Management LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 6.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,687 shares of the company’s stock after selling 381 shares during the quarter. Eli Lilly and Company comprises about 0.9% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Wellington Shields Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Twelve Points Wealth Management LLC grew its position in Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after acquiring an additional 11 shares during the last quarter. Verum Partners LLC grew its holdings in shares of Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC grew its holdings in shares of Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Finally, Versant Capital Management Inc raised 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 buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.3 %

Shares of NYSE:LLY traded up $3.11 during mid-day trading on Friday, hitting $915.86. The company had a trading volume of 358,059 shares, compared to its average volume of 3,045,279. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The firm has a fifty day moving average price of $896.03 and a 200 day moving average price of $826.65. The company has a market capitalization of $870.44 billion, a PE ratio of 134.43, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, research analysts forecast that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 19th. Jefferies Financial Group upped their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the transaction, the insider now directly owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 737,410 shares of company stock valued at $669,719,100. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.