AdvisorNet Financial Inc Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

AdvisorNet Financial Inc cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the 1st quarter, Holdings Channel reports. The firm owned 3,008 shares of the company’s stock after selling 72 shares during the quarter. AdvisorNet Financial Inc’s holdings in Eli Lilly and Company were worth $2,340,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Eli Lilly and Company by 7.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,054 shares of the company’s stock worth $1,640,000 after buying an additional 200 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Eli Lilly and Company by 37.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 21,274 shares of the company’s stock valued at $11,427,000 after acquiring an additional 5,772 shares during the period. GSB Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 10.3% during the 3rd quarter. GSB Wealth Management LLC now owns 800 shares of the company’s stock worth $430,000 after purchasing an additional 75 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Eli Lilly and Company by 10.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,528 shares of the company’s stock worth $1,358,000 after purchasing an additional 244 shares during the period. Finally, Paragon Private Wealth Management LLC lifted its stake in Eli Lilly and Company by 3.9% in the third quarter. Paragon Private Wealth Management LLC now owns 983 shares of the company’s stock valued at $528,000 after purchasing an additional 37 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $890.62 on Tuesday. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $905.45. The firm has a market capitalization of $846.45 billion, a PE ratio of 131.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The business’s 50-day moving average price is $801.37 and its 200-day moving average price is $732.02. 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 released its quarterly 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 company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.73 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the sale, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the completion of the sale, the insider now owns 97,574,139 shares of the company’s stock, valued at $88,077,248,051.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 772,475 shares of company stock valued at $656,838,859. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Citigroup raised their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Argus lifted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. The Goldman Sachs Group raised their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group increased their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $806.72.

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.