Global Assets Advisory LLC Invests $325.42 Million in Eli Lilly and Company (NYSE:LLY)

Global Assets Advisory LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 418,303 shares of the company’s stock, valued at approximately $325,423,000. Eli Lilly and Company comprises 1.1% of Global Assets Advisory LLC’s investment portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lipe & Dalton purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $29,000. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC raised its position in Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on LLY. JPMorgan Chase & Co. raised 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 note on Wednesday, May 1st. Truist Financial raised their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $806.72.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction 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 transaction, the insider now owns 97,574,139 shares in the company, valued at approximately $88,077,248,051.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the sale, the insider now directly owns 97,574,139 shares in the company, valued at approximately $88,077,248,051.13. The sale 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 business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 772,475 shares of company stock worth $656,838,859 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.8 %

NYSE LLY opened at $890.62 on Tuesday. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week 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 business’s fifty day simple moving average is $801.37 and its 200-day simple moving average is $732.02. The firm has a market cap of $846.45 billion, a PE ratio of 131.17, a P/E/G ratio of 1.93 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. 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 previous year, the firm earned $1.62 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.73 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

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.