Eli Lilly and Company (NYSE:LLY) Shares Sold by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,151 shares of the company’s stock after selling 90 shares during the quarter. Eli Lilly and Company makes up about 0.8% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Sandy Cove Advisors LLC’s holdings in Eli Lilly and Company were worth $1,673,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $26,000. Core Wealth Advisors Inc. grew its stake in shares of Eli Lilly and Company by 188.2% during 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 during the period. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $29,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $37,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LLY. The Goldman Sachs Group upped their price target on 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. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, 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. Over the last three months, insiders 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 Price Performance

LLY opened at $905.38 on Monday. The company has a fifty day simple moving average of $814.40 and a 200 day simple moving average of $740.86. The firm has a market cap of $860.48 billion, a price-to-earnings ratio of 133.34, a PEG ratio of 1.97 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $915.54. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. Equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid 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 (DPR) is 76.58%.

Eli Lilly and Company 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.