MJP Associates Inc. ADV Buys 604 Shares of Eli Lilly and Company (NYSE:LLY)

MJP Associates Inc. ADV grew its stake in Eli Lilly and Company (NYSE:LLY) by 25.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,994 shares of the company’s stock after purchasing an additional 604 shares during the quarter. Eli Lilly and Company comprises about 0.5% of MJP Associates Inc. ADV’s holdings, making the stock its 28th biggest holding. MJP Associates Inc. ADV’s holdings in Eli Lilly and Company were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LLY. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. increased its stake in shares of 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 acquiring an additional 32 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $37,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LLY. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 17th. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research report on Friday, June 7th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Bank of America increased their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $803.50.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $883.88 on Friday. The firm’s 50 day moving average price is $798.59 and its 200-day moving average price is $728.91. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $905.45. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $840.05 billion, a PE ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now 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 SEC, which is available through this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now 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 SEC, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 762,804 shares of company stock worth $648,109,138. Company insiders own 0.13% of the company’s stock.

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.