Objective Capital Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Objective Capital Management LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 307 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its holdings in Eli Lilly and Company by 3.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 911,127 shares of the company’s stock worth $709,116,000 after acquiring an additional 26,229 shares in the last quarter. Tactive Advisors LLC boosted its stake in Eli Lilly and Company by 54.0% in the 1st quarter. Tactive Advisors LLC now owns 1,235 shares of the company’s stock worth $961,000 after purchasing an additional 433 shares in the last quarter. Cambridge Trust Co. grew its position in Eli Lilly and Company by 196.8% during the 1st quarter. Cambridge Trust Co. now owns 32,440 shares of the company’s stock worth $25,237,000 after purchasing an additional 21,510 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Eli Lilly and Company during the 1st quarter valued at approximately $823,000. Finally, Instrumental Wealth LLC purchased a new position in shares of Eli Lilly and Company in the first quarter worth $274,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $27.98 during trading on Friday, hitting $804.46. The company had a trading volume of 3,515,933 shares, compared to its average volume of 3,316,491. The firm has a market capitalization of $764.57 billion, a price-to-earnings ratio of 118.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The stock has a fifty day simple moving average of $870.80 and a two-hundred day simple moving average of $787.85. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a fifty-two week low of $446.89 and a fifty-two week high of $966.10.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm posted $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.79 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. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Argus upped their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Jefferies Financial Group raised their target price on shares of 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $858.72.

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.