Flaharty Asset Management LLC Purchases 21 Shares of Eli Lilly and Company (NYSE:LLY)

Flaharty Asset Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,124 shares of the company’s stock after purchasing an additional 21 shares during the quarter. Flaharty Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,018,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Capital World Investors lifted its position in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the period. Norges Bank bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. Capital Research Global Investors increased its holdings in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares during the period. Finally, Capital International Investors raised its stake in Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Up 2.1 %

LLY stock opened at $960.02 on Monday. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market cap of $912.41 billion, a PE ratio of 141.39, a PEG ratio of 2.91 and a beta of 0.41. The firm’s 50 day moving average price is $892.64 and its 200-day moving average price is $822.54.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 0.54%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $836.32, for a total value of $17,046,710.56. Following the completion of the transaction, the insider now owns 98,188,427 shares in the company, valued at approximately $82,116,945,268.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 897,283 shares of company stock valued at $805,651,743 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.