Pekin Hardy Strauss Inc. Has $1.23 Million Position in Eli Lilly and Company (NYSE:LLY)

Pekin Hardy Strauss Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,356 shares of the company’s stock after purchasing an additional 130 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Eli Lilly and Company were worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Planning LLC acquired a new stake in Eli Lilly and Company in the 1st quarter worth about $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company in the first quarter valued at approximately $6,916,000. M&G Plc bought a new position in Eli Lilly and Company in the first quarter valued at approximately $8,896,000. IPG Investment Advisors LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $351,000. Finally, HighPoint Advisor Group LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $9,878,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of 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. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Finally, Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $924.05 on Tuesday. The firm has a market cap of $878.22 billion, a PE ratio of 136.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The firm’s fifty day moving average is $897.24 and its 200-day moving average is $835.09. 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 52 week low of $516.57 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for 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%. Sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 451,900 shares of company stock worth $418,732,178. Company insiders own 0.13% of the company’s stock.

Eli Lilly and 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.