Trifecta Capital Advisors LLC Has $16.74 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Trifecta Capital Advisors LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,518 shares of the company’s stock after selling 1,804 shares during the quarter. Eli Lilly and Company makes up approximately 4.1% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Trifecta Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $16,740,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. WD Rutherford LLC purchased a new stake in Eli Lilly and Company in the first quarter worth about $187,000. Total Investment Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $203,000. Norris Perne & French LLP MI purchased a new stake in Eli Lilly and Company in the 1st quarter worth approximately $318,000. Webster Bank N. A. raised its stake in Eli Lilly and Company by 2.9% during the 1st quarter. Webster Bank N. A. now owns 1,982 shares of the company’s stock worth $1,542,000 after acquiring an additional 56 shares during the period. Finally, OneAscent Wealth Management LLC purchased a new position in Eli Lilly and Company during the first quarter valued at approximately $359,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $905.38 on Friday. The company’s 50-day moving average price is $814.40 and its 200-day moving average price is $739.86. 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 company has a market cap of $860.48 billion, a PE ratio of 133.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $915.54.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share 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 company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LLY shares. The Goldman Sachs Group increased 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 note on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on 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. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Argus upped their price objective on 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. Finally, BMO Capital Markets increased their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $812.72.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the 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 sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of 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 SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’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 transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $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. 0.13% of the stock is owned by company insiders.

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.