Grimes & Company Inc. Decreases Position in Eli Lilly and Company (NYSE:LLY)

Grimes & Company Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,832 shares of the company’s stock after selling 1,047 shares during the period. Grimes & Company Inc.’s holdings in Eli Lilly and Company were worth $2,981,000 at the end of the most recent quarter.

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

Eli Lilly and Company Stock Performance

NYSE LLY opened at $905.38 on Friday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $915.54. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $860.48 billion, a P/E ratio of 133.34, a P/E/G ratio of 1.97 and a beta of 0.36. The company has a fifty day moving average of $814.40 and a 200-day moving average of $739.86.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the firm posted $1.62 EPS. The firm’s revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $812.72.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction 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, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders sold 789,704 shares of company stock valued at $672,385,964 over the last three months. Insiders own 0.13% of the company’s stock.

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.