Triangle Securities Wealth Management Reduces Position in Eli Lilly and Company (NYSE:LLY)

Triangle Securities Wealth Management decreased its position in Eli Lilly and Company (NYSE:LLY) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 4,327 shares of the company’s stock after selling 118 shares during the period. Eli Lilly and Company makes up about 1.0% of Triangle Securities Wealth Management’s holdings, making the stock its 25th largest holding. Triangle Securities Wealth Management’s holdings in Eli Lilly and Company were worth $3,366,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. International Assets Investment Management LLC increased its stake in Eli Lilly and Company by 61,268.8% during 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 acquiring an additional 7,330,815 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $682,139,000. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $345,781,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 0.2 %

Shares of NYSE:LLY opened at $883.88 on Friday. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a market cap 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. The company has a fifty day simple moving average of $798.59 and a 200 day simple moving average of $728.91.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued 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 dividend payout ratio is presently 76.58%.

Analyst Ratings Changes

LLY has been the subject of a number of research analyst reports. 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. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a report on Friday, June 7th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Citigroup boosted their price objective 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 analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $803.50.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. In the last quarter, insiders sold 762,804 shares of company stock worth $648,109,138. 0.13% of the stock is currently owned by corporate 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.