Cornerstone Wealth Group LLC Has $9.32 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Cornerstone Wealth Group LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,982 shares of the company’s stock after selling 1,658 shares during the quarter. Eli Lilly and Company comprises approximately 0.9% of Cornerstone Wealth Group LLC’s holdings, making the stock its 29th largest holding. Cornerstone Wealth Group LLC’s holdings in Eli Lilly and Company were worth $9,321,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Simon Quick Advisors LLC increased its position in shares of Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares in the last quarter. Independent Advisor Alliance increased its position in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP increased its position in shares of Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $363,000. Finally, Terril Brothers Inc. increased its position in shares of Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Citigroup increased their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. 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 report on Wednesday, May 1st. Argus increased their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. 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 report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Trading Down 0.4 %

Shares of LLY stock opened at $905.38 on Monday. The firm has a 50 day moving average price of $814.40 and a two-hundred day moving average price of $740.86. 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 capitalization of $860.48 billion, a PE ratio of 133.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $915.54.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period last year, the firm earned $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction 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 $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 789,704 shares of company stock valued at $672,385,964. 0.13% of the stock is currently owned by company insiders.

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.