Abner Herrman & Brock LLC Has $20.52 Million Position in Eli Lilly and Company (NYSE:LLY)

Abner Herrman & Brock LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,372 shares of the company’s stock after buying an additional 373 shares during the quarter. Eli Lilly and Company comprises about 2.6% of Abner Herrman & Brock LLC’s portfolio, making the stock its 13th largest holding. Abner Herrman & Brock LLC’s holdings in Eli Lilly and Company were worth $20,517,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Lipe & Dalton acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Optiver Holding B.V. bought a new position in Eli Lilly and Company during the 3rd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $37,000. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial upped their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup upped their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $803.50.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $886.33 on Friday. The company has a market capitalization of $842.38 billion, a price-to-earnings ratio of 130.53, a PEG ratio of 1.94 and a beta of 0.36. The business has a 50 day moving average of $795.93 and a 200 day moving average of $725.85. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $905.45.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares of the company’s stock, valued at approximately $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 762,804 shares of company stock valued at $648,109,138. 0.13% of the stock is currently owned by company insiders.

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.