Schneider Downs Wealth Management Advisors LP Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Schneider Downs Wealth Management Advisors LP lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 241 shares of the company’s stock after selling 64 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in Eli Lilly and Company were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Bank of America increased their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 15,022 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the transaction, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 661,900 shares of company stock valued at $604,721,602 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 0.8 %

LLY stock opened at $901.28 on Wednesday. The stock has a fifty day moving average of $895.74 and a 200-day moving average of $830.47. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week 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 company has a market capitalization of $856.60 billion, a price-to-earnings ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42.

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

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.