Eli Lilly and Company (NYSE:LLY) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 539 shares of the company’s stock after selling 14 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Eli Lilly and Company were worth $488,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $36,000. Morton Brown Family Wealth LLC boosted its stake in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Core Wealth Advisors Inc. increased its position in shares of 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 purchasing an additional 32 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Eli Lilly and Company in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LLY. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Guggenheim boosted their price objective 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. Finally, Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $10.04 during mid-day trading on Friday, hitting $902.71. The company’s stock had a trading volume of 3,439,999 shares, compared to its average volume of 3,063,074. The stock has a market capitalization of $857.94 billion, a P/E ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock’s fifty day moving average price is $895.97 and its two-hundred day moving average price is $827.99. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.83 billion. Research analysts forecast that Eli Lilly and Company will post 16.51 earnings per share 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. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Activity

In other Eli Lilly and Company 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 shares were sold at an average price of $882.47, for a total value of $13,256,464.34. Following the completion of the sale, the insider now directly owns 97,778,788 shares of the company’s stock, valued at $86,286,847,046.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 737,410 shares of company stock worth $669,719,100 in the last three months. 0.13% of the stock is owned by insiders.

About Eli Lilly and Company

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.