Athena Investment Management Has $1.29 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Athena Investment Management decreased its position in Eli Lilly and Company (NYSE:LLY) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,422 shares of the company’s stock after selling 66 shares during the period. Eli Lilly and Company accounts for 0.8% of Athena Investment Management’s portfolio, making the stock its 28th largest position. Athena Investment Management’s holdings in Eli Lilly and Company were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its stake in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the last quarter. Apexium Financial LP boosted its position in shares of Eli Lilly and Company by 1,819.1% in the 4th 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 last quarter. Capital Planning LLC acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company in the first quarter valued at about $6,916,000. Finally, M&G Plc acquired a new position in Eli Lilly and Company in the first quarter valued at about $8,896,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.8 %

Eli Lilly and Company stock opened at $901.28 on Wednesday. The stock has a 50-day simple moving average of $895.74 and a 200 day simple moving average of $830.47. The stock has a market capitalization of $856.60 billion, a P/E ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

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

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the completion of the sale, the insider now owns 97,778,788 shares in the company, valued at $86,286,847,046.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 661,900 shares of company stock worth $604,721,602. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. Morgan Stanley reissued 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. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Truist Financial restated 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. Guggenheim boosted their price objective on 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. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $961.76.

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.