Pitti Group Wealth Management LLC Sells 14 Shares of Eli Lilly and Company (NYSE:LLY)

Pitti Group Wealth Management LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,659 shares of the company’s stock after selling 14 shares during the quarter. Eli Lilly and Company makes up about 1.6% of Pitti Group Wealth Management LLC’s holdings, making the stock its 18th biggest position. Pitti Group Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,502,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Planning LLC bought a new stake in Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Eli Lilly and Company during the first quarter worth about $6,916,000. M&G Plc acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $8,896,000. IPG Investment Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at $9,878,000. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LLY shares. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. BMO Capital Markets upped their price target 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Citigroup began coverage on shares of Eli Lilly and Company in a research report on Friday. They set a “buy” rating and a $1,060.00 target price for the company. Finally, Bank of America boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $924.05 on Tuesday. The firm has a market cap of $878.22 billion, a price-to-earnings ratio of 136.09, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a 50-day moving average price of $897.24 and a 200 day moving average price of $835.09.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is owned by insiders.

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.