Marcum Wealth LLC Increases Position in Eli Lilly and Company (NYSE:LLY)

Marcum Wealth LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,917 shares of the company’s stock after purchasing an additional 196 shares during the period. Marcum Wealth LLC’s holdings in Eli Lilly and Company were worth $2,269,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LLY. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Sapient Capital LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $682,139,000. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares in the last quarter. Finally, Comerica Bank acquired a new position in Eli Lilly and Company during the 3rd quarter valued at about $345,781,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $884.46 on Friday. The company has a market capitalization of $840.60 billion, a P/E ratio of 130.26, a P/E/G ratio of 1.93 and a beta of 0.36. The business’s 50 day moving average is $798.59 and its two-hundred day moving average is $727.93. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. Analysts expect that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LLY. Jefferies Financial Group increased their price objective on Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a report on Friday, June 7th. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Truist Financial increased their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets upped their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $803.50.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. 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 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.