9258 Wealth Management LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

9258 Wealth Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,126 shares of the company’s stock after selling 47 shares during the quarter. 9258 Wealth Management LLC’s holdings in Eli Lilly and Company were worth $4,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance raised its holdings in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the last quarter. Apexium Financial LP grew its position in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares in the last quarter. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company during the first quarter valued at $6,916,000. Finally, M&G Plc purchased a new position in Eli Lilly and Company during the 1st quarter valued at $8,896,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

LLY stock traded down $31.12 during midday trading on Thursday, reaching $915.19. The company had a trading volume of 1,567,093 shares, compared to its average volume of 3,051,438. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The stock has a 50 day moving average price of $895.96 and a 200-day moving average price of $826.05. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market capitalization of $869.80 billion, a price-to-earnings ratio of 135.82, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

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 the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed 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. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LLY. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, August 19th. Guggenheim increased 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 research report on Friday, August 16th. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Barclays increased their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $961.76.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $860.78, for a total value of $64,997,497.80. Following the transaction, the insider now owns 97,793,810 shares of the company’s stock, valued at $84,178,955,771.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 876,900 shares of company stock worth $788,605,032. 0.13% of the stock is owned by corporate 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.