Angeles Wealth Management LLC Purchases 354 Shares of Eli Lilly and Company (NYSE:LLY)

Angeles Wealth Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,407 shares of the company’s stock after buying an additional 354 shares during the quarter. Angeles Wealth Management LLC’s holdings in Eli Lilly and Company were worth $3,990,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC increased its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares during the last quarter. Acorn Creek Capital LLC increased its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. increased its holdings in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after acquiring an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $901.28 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The stock has a 50 day moving average price of $895.74 and a two-hundred day moving average price of $830.47. The company has a market capitalization of $856.60 billion, a P/E ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating 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 the consensus estimate of $9.83 billion. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’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 transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 661,900 shares of company stock valued at $604,721,602. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Bank of America boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $961.76.

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.