Pitti Group Wealth Management LLC Has $1.50 Million Position in Eli Lilly and Company (NYSE:LLY)

Pitti Group Wealth Management LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,659 shares of the company’s stock after selling 14 shares during the quarter. Eli Lilly and Company comprises 1.6% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 18th biggest holding. Pitti Group Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the second quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $36,000. Morton Brown Family Wealth LLC grew its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Finally, Tidemark LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $29,000. 82.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 451,900 shares of company stock worth $418,732,178 in the last three months. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $924.05 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a market capitalization of $878.22 billion, a P/E ratio of 136.09, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business has a fifty day moving average price of $897.24 and a 200-day moving average price of $835.09.

Eli Lilly and Company (NYSE:LLY) last announced 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 return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Guggenheim increased their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

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.