Sheets Smith Wealth Management Grows Stake in Eli Lilly and Company (NYSE:LLY)

Sheets Smith Wealth Management lifted its position in Eli Lilly and Company (NYSE:LLY) by 48.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,065 shares of the company’s stock after buying an additional 4,271 shares during the period. Eli Lilly and Company comprises about 1.4% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 15th biggest position. Sheets Smith Wealth Management’s holdings in Eli Lilly and Company were worth $11,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Twelve Points Wealth Management LLC increased its holdings in Eli Lilly and Company by 1.4% in 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 in the last quarter. Verum Partners LLC boosted its position in shares of Eli Lilly and Company by 1.5% in 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 period. Beaird Harris Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares in the last quarter. Summit Financial Strategies Inc. raised its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership raised its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 4.3 %

LLY opened at $831.54 on Friday. The stock has a 50-day moving average of $896.31 and a 200 day moving average of $867.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The firm has a market cap of $789.40 billion, a P/E ratio of 89.90, a P/E/G ratio of 2.94 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the business earned $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on 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. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets upped their price target on 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. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

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.