Wrapmanager Inc. Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Wrapmanager Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the company’s stock after buying an additional 195 shares during the period. Wrapmanager Inc.’s holdings in Eli Lilly and Company were worth $2,194,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $29,000. Core Wealth Advisors Inc. boosted its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the second quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $37,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY opened at $923.71 on Friday. The firm has a market capitalization of $877.92 billion, a PE ratio of 136.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. 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 business’s 50-day moving average is $897.12 and its two-hundred day moving average is $832.88. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analysts Set New Price Targets

Several analysts recently issued reports on LLY shares. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Barclays raised their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. 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, September 9th. Berenberg Bank upped their price target on shares of 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. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares in the company, valued at approximately $88,077,248,051.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 646,878 shares of company stock worth $591,465,138. 0.13% of the stock is owned by insiders.

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.