Seaside Wealth Management Inc. Invests $588,000 in Eli Lilly and Company (NYSE:LLY)

Seaside Wealth Management Inc. bought a new stake in Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 650 shares of the company’s stock, valued at approximately $588,000. Eli Lilly and Company accounts for about 0.2% of Seaside Wealth Management Inc.’s portfolio, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the last quarter. Capital Planning LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company in the first quarter worth about $6,916,000. M&G Plc acquired a new stake in Eli Lilly and Company during the first quarter worth about $8,896,000. Finally, IPG Investment Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $351,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.2 %

Eli Lilly and Company stock opened at $920.89 on Thursday. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The firm has a 50 day moving average price of $896.20 and a 200 day moving average price of $831.11. The company has a market capitalization of $875.22 billion, a PE ratio of 135.62, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. 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 (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. 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 1,441 shares of Eli Lilly and Company stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the sale, the insider now directly owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 661,900 shares of company stock valued at $604,721,602. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LLY. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Berenberg Bank raised 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 research report on Wednesday, August 14th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Bank of America raised their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

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.