LongView Wealth Management Sells 21 Shares of Eli Lilly and Company (NYSE:LLY)

LongView Wealth Management trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440 shares of the company’s stock after selling 21 shares during the quarter. LongView Wealth Management’s holdings in Eli Lilly and Company were worth $343,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lipe & Dalton bought a new stake in Eli Lilly and Company during the fourth quarter worth about $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the fourth quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. The Goldman Sachs Group upped 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 research report on Thursday, April 11th. Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Citigroup boosted their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Finally, Jefferies Financial Group boosted 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 note on Monday, June 24th. Three investment 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, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the completion of the transaction, the insider now owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 789,704 shares of company stock worth $672,385,964. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $905.87 on Friday. The business’s 50 day simple moving average is $814.40 and its 200 day simple moving average is $738.79. Eli Lilly and Company has a one year low of $434.34 and a one year high of $915.54. The stock has a market capitalization of $860.95 billion, a PE ratio of 133.41, a PEG ratio of 1.98 and a beta of 0.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) 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 analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. As a group, research analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 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.