MBE Wealth Management LLC Sells 1,003 Shares of Eli Lilly and Company (NYSE:LLY)

MBE Wealth Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 62.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 601 shares of the company’s stock after selling 1,003 shares during the quarter. MBE Wealth Management LLC’s holdings in Eli Lilly and Company were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. M3 Advisory Group LLC grew its holdings in shares of Eli Lilly and Company by 26.0% during the second quarter. M3 Advisory Group LLC now owns 702 shares of the company’s stock valued at $635,000 after buying an additional 145 shares during the last quarter. Gerber LLC increased its position in shares of Eli Lilly and Company by 6.2% during the 2nd quarter. Gerber LLC now owns 342 shares of the company’s stock valued at $310,000 after purchasing an additional 20 shares during the last quarter. Dakota Wealth Management increased its position in shares of Eli Lilly and Company by 0.6% during the 2nd quarter. Dakota Wealth Management now owns 58,815 shares of the company’s stock valued at $53,250,000 after purchasing an additional 365 shares during the last quarter. Colonial River Wealth Management LLC increased its position in shares of Eli Lilly and Company by 2.5% during the 2nd quarter. Colonial River Wealth Management LLC now owns 534 shares of the company’s stock valued at $483,000 after purchasing an additional 13 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. increased its position in shares of Eli Lilly and Company by 0.5% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 6,375 shares of the company’s stock valued at $5,772,000 after purchasing an additional 30 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of LLY traded up $23.57 during trading hours on Tuesday, reaching $945.38. 3,621,869 shares of the company’s stock traded hands, compared to its average volume of 3,096,260. The stock has a market cap of $898.49 billion, a PE ratio of 140.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $967.00. The firm’s 50 day simple moving average is $880.04 and its 200-day simple moving average is $808.13.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LLY. BMO Capital Markets raised 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 report on Friday, August 9th. Wells Fargo & Company lifted their price objective on 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. Jefferies Financial Group lifted their price objective 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. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $956.88.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

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.