Focus Financial Network Inc. ADV Makes New $17.29 Million Investment in Eli Lilly and Company (NYSE:LLY)

Focus Financial Network Inc. ADV acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 29,655 shares of the company’s stock, valued at approximately $17,286,000. Eli Lilly and Company accounts for 0.6% of Focus Financial Network Inc. ADV’s holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC grew its position in shares of Eli Lilly and Company by 1.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,778 shares of the company’s stock worth $955,000 after buying an additional 31 shares during the last quarter. Wambolt & Associates LLC lifted its holdings in Eli Lilly and Company by 10.0% in the third quarter. Wambolt & Associates LLC now owns 1,512 shares of the company’s stock worth $814,000 after buying an additional 137 shares during the period. Jump Financial LLC grew its holdings in shares of Eli Lilly and Company by 337.3% during the 3rd quarter. Jump Financial LLC now owns 30,041 shares of the company’s stock worth $16,136,000 after acquiring an additional 23,171 shares during the period. Atria Investments Inc raised its position in shares of Eli Lilly and Company by 0.8% in the 3rd quarter. Atria Investments Inc now owns 38,830 shares of the company’s stock worth $20,843,000 after acquiring an additional 299 shares in the last quarter. Finally, Fort Pitt Capital Group LLC grew its stake in Eli Lilly and Company by 34.0% in the third quarter. Fort Pitt Capital Group LLC now owns 1,061 shares of the company’s stock worth $570,000 after purchasing an additional 269 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. DZ Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a research note on Wednesday, February 21st. Finally, Citigroup lifted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $769.53.

Eli Lilly and Company Stock Performance

LLY stock traded up $0.43 during midday trading on Tuesday, reaching $807.86. 2,471,458 shares of the company’s stock traded hands, compared to its average volume of 2,988,809. The stock’s 50-day moving average is $766.37 and its 200 day moving average is $695.00. The stock has a market cap of $767.80 billion, a P/E ratio of 118.31, a PEG ratio of 1.76 and a beta of 0.37. Eli Lilly and Company has a 52-week low of $422.06 and a 52-week high of $820.60. 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 (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company 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.