Fortress Wealth Group LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Fortress Wealth Group LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,418 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Eli Lilly and Company makes up approximately 1.0% of Fortress Wealth Group LLC’s investment portfolio, making the stock its 20th largest position. Fortress Wealth Group LLC’s holdings in Eli Lilly and Company were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Everpar Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at $1,845,000. International Assets Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 5.3% in the fourth quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock valued at $7,343,000 after acquiring an additional 632 shares in the last quarter. AMJ Financial Wealth Management purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $201,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Eli Lilly and Company by 124.7% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock worth $838,000 after acquiring an additional 798 shares in the last quarter. Finally, Providence First Trust Co purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $274,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Argus upped their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, BMO Capital Markets lifted 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 note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $19.82 on Friday, hitting $960.02. 2,555,073 shares of the company were exchanged, compared to its average volume of 3,625,430. The firm has a market capitalization of $912.43 billion, a P/E ratio of 141.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The stock’s 50 day moving average price is $892.64 and its 200 day moving average price is $822.08.

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 analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts predict that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.54%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,097,883 shares of company stock valued at $972,022,568. 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.