Eli Lilly and Company (NYSE:LLY) Stake Trimmed by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 73.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 467 shares of the company’s stock after selling 1,286 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Eli Lilly and Company were worth $423,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Rock Point Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $282,000. Wilkins Investment Counsel Inc. lifted its stake in Eli Lilly and Company by 8.4% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 3,104 shares of the company’s stock worth $2,810,000 after acquiring an additional 240 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth about $4,067,000. Seven Mile Advisory grew its stake in Eli Lilly and Company by 4.0% during the 2nd quarter. Seven Mile Advisory now owns 1,136 shares of the company’s stock valued at $1,028,000 after acquiring an additional 44 shares in the last quarter. Finally, Vista Capital Partners Inc. increased its holdings in shares of Eli Lilly and Company by 5.7% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,069 shares of the company’s stock valued at $968,000 after purchasing an additional 58 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LLY shares. Citigroup began coverage on shares of Eli Lilly and Company in a report on Friday. They set a “buy” rating and a $1,060.00 price target for the company. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Bank of America boosted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 646,878 shares of company stock valued at $591,465,138. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $923.71 on Friday. The firm has a market capitalization of $877.92 billion, a price-to-earnings ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business has a fifty day simple moving average of $897.12 and a 200 day simple moving average of $833.36. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 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.