Cherrydale Wealth Management LLC Increases Holdings in Eli Lilly and Company (NYSE:LLY)

Cherrydale Wealth Management LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 670 shares of the company’s stock after acquiring an additional 93 shares during the quarter. Cherrydale Wealth Management LLC’s holdings in Eli Lilly and Company were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. True North Advisors LLC grew its stake in shares of Eli Lilly and Company by 0.4% during the first quarter. True North Advisors LLC now owns 4,309 shares of the company’s stock valued at $3,352,000 after buying an additional 18 shares during the last quarter. Anderson Hoagland & Co. increased its stake in Eli Lilly and Company by 1.2% in the 1st quarter. Anderson Hoagland & Co. now owns 22,823 shares of the company’s stock worth $17,391,000 after buying an additional 260 shares during the period. High Net Worth Advisory Group LLC lifted its holdings in Eli Lilly and Company by 1.4% during the 1st quarter. High Net Worth Advisory Group LLC now owns 4,919 shares of the company’s stock valued at $3,827,000 after buying an additional 67 shares in the last quarter. Rheos Capital Works Inc. grew its stake in Eli Lilly and Company by 32.9% in the 1st quarter. Rheos Capital Works Inc. now owns 113,000 shares of the company’s stock worth $87,909,000 after acquiring an additional 28,000 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Eli Lilly and Company by 10.5% during the first quarter. Ballentine Partners LLC now owns 15,235 shares of the company’s stock worth $11,852,000 after acquiring an additional 1,442 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 772,475 shares of company stock worth $656,838,859. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $7.47 during trading hours on Monday, hitting $891.35. 604,825 shares of the stock were exchanged, compared to its average volume of 2,929,484. The company has a market cap of $847.15 billion, a P/E ratio of 130.83, a P/E/G ratio of 1.93 and a beta of 0.36. The firm’s fifty day moving average price is $798.59 and its 200 day moving average price is $729.89. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week 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.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results 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 for 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%. Eli Lilly and Company’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 earnings per share. As a group, 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 business also recently disclosed 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 yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analysts Set New Price Targets

Several research analysts have commented on LLY shares. Citigroup raised their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. BMO Capital Markets increased their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Finally, Argus boosted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $803.50.

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.